Cryptocurrency ATMs, once hailed for financial inclusion, are now under scrutiny as FinCEN exposes their role in drug money laundering and elder scams. In a stark advisory, the Treasury bureau revealed:
- Cartels like CJNG are increasingly using kiosks to move illicit funds.
- Fraudsters trick seniors into irreversible crypto transfers at ATMs.
- Some operators skirt ID checks, enabling anonymous crime.
“These technologies are being hijacked by criminals,” said Director Gacki, calling for tighter oversight. The alert marks a pivotal step in hardening defenses against crypto-facilitated crime.
