Cryptocurrency becomes mainstream option for money laundering and funding of terrorism, Austrac says

Australia's financial intelligence agency warns that Russian paramilitary groups are soliciting crypto via social media to buy weapons for Ukraine conflict

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Australia's financial intelligence agency has warned Russian paramilitary groups are soliciting cryptocurrency donations to buy weapons and that Australians have donated to terrorist organisations overseas.

Senior executives at Australian Transaction Reports and Analysis Centre (Austrac) also said cryptocurrency has become a standard part of the money-laundering tool kit" for organised crime groups in Australia.

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