Cryptocurrency

Bank AI

Bitcoin

April

James

Australia&#8217;s Commonwealth Bank (CBA) recently announced that it would deny or temporarily hold specific payments to <a href="https://en.coin-turk.com/" target="_blank" rel="noopener" data-wpel-link="internal">cryptocurrency</a> exchanges, citing fraud risk as the reason for the action. 
<h2 style="text-align: justify;" id="cryptocurrency-statement-from-the-bank">Cryptocurrency Statement from the Bank</h2>
On June 8, the CBA clarified that it would either reject such payments or hold them for 24 hours. However, the bank did not disclose which exchanges or payment types would be affected by the new directive. It also indicated that in the coming months, a $10,000 AUD ($6,650) monthly limit will be applied to customers sending payments to cryptocurrency exchanges to purchase cryptocurrencies. This situation could potentially slow down cash inflows for cryptocurrencies, specifically in Australia. 
According to CBA&#8217;s general manager of fraud management services, James Roberts, scammers worldwide are exploiting the growing interest in cryptocurrencies. These fraudulent schemes often disguise as legitimate investment opportunities, directing user funds to crypto exchanges. The bank&#8217;s decision to impose restrictions is aimed at protecting its customers from falling victim to such fraudulent operations. 
The bank also said the order will continually be reviewed and its impact monitored. Through implementing these procedures, the bank aims to limit risks associated with crypto transactions and ensure the security of its customers&#8217; assets. 
<img decoding="async" loading="lazy" class="aligncenter wp-image-83632 size-full" src="https://en.coin-turk.com/wp-content/uploads/2023/06/binance-ban.png" alt="" width="1360" height="922" srcset="https://en.coin-turk.com/wp-content/uploads/2023/06/binance-ban.png 1360w, https://en.coin-turk.com/wp-content/uploads/2023/06/binance-ban-251x170.png 251w, https://en.coin-turk.com/wp-content/uploads/2023/06/binance-ban-768x521.png 768w, https://en.coin-turk.com/wp-content/uploads/2023/06/binance-ban-1200x814.png 1200w" sizes="(max-width: 1360px) 100vw, 1360px" />
<h2 style="text-align: justify;" id="binance-banned">Binance Banned!</h2>
In the previous month, another significant Australian bank, Westpac, prohibited its users from transacting with the cryptocurrency exchange <a href="https://en.coin-turk.com/recent-evidence-points-to-large-scale-crypto-transfers-by-binance-via-signature-bank-and-silvergate-bank/" target="_blank" rel="noopener" data-wpel-link="internal">Binance.</a> Earlier this week, two major global exchanges, Binance and Coinbase, were charged with lawsuits by the U.S. Securities and Exchange Commission (SEC). Australians lost millions in 2022 due to cryptocurrency fraud. 
The national competition regulator, the Australian Competition and Consumer Commission (ACCC), revealed in a report published in April how nearly 4,000 Australians were defrauded in 2022 while using Bitcoin and other cryptocurrencies as a payment method. 
These crypto scams resulted in fraudsters amassing as much as $148.4 million (221.3 million AUD) in 2022. Australians lost $56.3 million (84 million AUD) to crypto fraud in 2021 and $20.5 million (26.5 million AUD) in 2020. 
The post <a rel="nofollow" href="https://en.coin-turk.com/australias-commonwealth-bank-places-crypto-transactions-on-hold/" data-wpel-link="internal">Australia&#8217;s Commonwealth Bank Places Crypto Transactions on Hold </a> appeared first on <a rel="nofollow" href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.

Australia’s Commonwealth Bank Places Crypto Transactions on Hold

Innehållsförteckning

COINTURK NEWS

Andra artiklar publicerade 8 juni 2023

Web3 Social Protocol Lens Protocol Closes $15 Million in Funding Led by IDEO CoLab Ventures

The Sandbox (SAND) Owner Animoca Brands to Focus on Non-US Customers

Unleashing the Power of MEME TOKENS: Exploring the World of MMIT

INSANELY BULLISH Crypto Project for 2023

Sparkling New Address Makes Massive Ethereum Withdrawal, Is Sell-off Incoming?

FBBank landed on Galxe, rich activities are in progress！

Prenumerera på vårt nyhetsbrev och få kryptouppdateringar varje dag!