UK Authorities Seize Seven Illegal Crypto ATMs in London Amid FCA Crackdown
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On July 17, 2025, the Financial Conduct Authority (FCA) revealed that it collaborated with the Metropolitan Police to raid four southwest London locations, confiscate seven unregistered crypto ATMs, and arrest two individuals on money laundering charges.
https://twitter.com/coinknowledge1/status/1945920011362877601
FCA and Metropolitan Police Target Illegal Crypto ATM Operations
Following the launch of regulatory efforts to tighten oversight of crypto operations in the UK in 2021, the FCA mandates that all crypto businesses, including crypto ATM operators, register and comply with anti-money laundering regulations.
However, FCA Executive Director of Enforcement and Market Oversight Therese Chambers stated that there are no legally-operated crypto ATMs in the UK, highlighting that “using one only supports crime.”
The arrested suspects have been interviewed and released as the investigation continues.
This recent operation underscores the UK watchdog’s efforts to clamp down on unauthorized crypto kiosks and protect the public from scams.
Recall that the FCA arrested Olumide Osunkoya, who was later sentenced to four years for operating a £2.5 million crypto ATM business through his company.
Osunkoya used forged documents, false identities, and charged markups of up to 60% without the FCA’s approval.
https://twitter.com/crypr0xi/status/1896364436505432210?s=46
Regulatory Oversight Grows Amid Spate of Crypto ATM Scams
The UK’s clampdown on unregistered crypto ATMs has become more relevant in light of a similar situation in Tasmania, where scammers using rogue crypto kiosks cost local victims over A$2.5 million.
This incident revealed how fraudsters set up ATM-style machines in public venues, promising “chat support” and anonymous crypto exchanges, and only to disappear with consumer funds.
While the UK’s Financial Conduct Authority targets illicit crypto ATMs linked to money laundering and fraud, the Tasmanian case underscores the consumer-level danger posed by these kiosks.
In both regions, unregulated machines operate outside any anti‑money laundering (AML) or know-your-customer (KYC) framework, exposing users to theft, non-existent refunds, and criminal activity.
In addition, crypto ATM scams are hitting hard in Australia as users lose millions of dollars to the fraud, which has led the authorities to intensify their sting operations. Australian authorities revealed that a nationwide enforcement operation has identified 90 scam victims. Notably, an elderly widow lost $282K to a scammer.
https://twitter.com/AUSTRAC/status/1929689444887429249
In its bid to tackle fraud, Australian authorities have introduced an A$5,000 ($3,250) cash limit for crypto transactions in the country.
