AUSTRAC Removes 45 Remittance and VASP Businesses as High-Risk Payments Scrutiny Intensifies
AUSTRAC has cancelled, suspended or refused renewal of 45 remittance and virtual asset service provider registrations over the past year as the Australian financial intelligence agency intensifies scrutiny of higher-risk payment businesses.
The regulator said on 7 September 2026 that the actions followed a broad review of businesses operating in the remittance and digital-asset sectors. Grounds included a lack of operational capacity, extended inactivity, insolvency, incorrect registration, failures to notify material changes and cases presenting significant money laundering or terrorism financing risk.
Businesses whose registrations are cancelled can no longer lawfully provide the relevant registered services. AUSTRAC said some individuals associated with the affected businesses have also been referred to domestic and overseas law-enforcement or regulatory partners.
One case highlighted by AUSTRAC involved BA Digital Ventures Pty Ltd, trading as GetCoins. The regulator worked with the National Anti-Scam Centre after receiving information about customer complaints and said the virtual asset service provider was allegedly being exploited by organised cryptocurrency investment scams. AUSTRAC subsequently cancelled the company’s registration.
The agency placed the 45 registration actions within a wider campaign targeting high-risk payment channels. It pointed to its recent investigation into Western Union and regulatory action involving the Cryptolink cryptocurrency ATM network as examples of increased scrutiny across remittance and digital-asset services.
AUSTRAC’s actions show that registration is not a one-off compliance exercise. Remittance providers and VASPs are expected to remain operationally capable, keep registration information current and demonstrate that money laundering and terrorism financing risks are being actively managed.
