**AUSTRAC Reports Rise in Crypto-Related Money Laundering**

The Australian Transaction Reports and Analysis Centre (AUSTRAC) has flagged a rise in the criminal use of cryptocurrencies. According to the 2024 Money Laundering National Risk Assessment, there's been a notable uptick in illicit activities involving digital currencies, exchanges, and unregistered remittance services.

**Key Points:**

- Traditional channels like cash, real estate, and luxury goods remain top choices for money laundering.

- Digital currencies, while still rated lower than traditional methods, are increasingly being exploited for their anonymity and speed.

- AUSTRAC stresses the need for crypto exchanges to register under the AML/CTF Act to curb these activities.

**Future Outlook:**

AUSTRAC anticipates that as digital currencies gain mainstream acceptance, their misuse will also rise. The report calls for adaptive regulatory measures and international cooperation to effectively tackle money laundering in the crypto space.

**New Regulations:**

In a related move, the Australian government has banned the use of crypto and credit cards for online gambling, with non-compliant companies facing hefty fines. This measure aims to help individuals maintain better control over their gambling habits.