Australia
Austrac fines crypto ATM operator Cryptolink in scams crackdown
Australia's financial crimes regulator AUSTRAC has fined cryptocurrency ATM operator Cryptolink $56,340 as part of efforts to combat scams and money laundering. The action highlights growing concerns over crypto ATMs, which have been linked to significant losses for victims, including elderly Australians. While new restrictions were imposed in July, advocates continue to call for an outright ban.
Tesla Grants Reprieve to Syrah in Graphite Supply Deal
Reported by AI
Australian mining company Syrah Resources has secured a temporary reprieve from Tesla in their graphite supply agreement, allowing the firm to avoid penalties amid production challenges. The adjustment comes as electric vehicle manufacturers grapple with supply chain disruptions in critical battery materials. This development highlights ongoing tensions in the global shift toward sustainable energy sources.
Cut Copy Unveils New Material
Electronic band Cut Copy released new music on September 5, 2025, as part of the week's major drops. The release highlights their synth-pop influences.
Deloitte to refund Australian government for AI-hallucinated report
Reported by AI
Deloitte Australia has agreed to partially refund the government for a $440,000 report riddled with fabricated citations generated by AI. The firm quietly admitted using GPT-4o after errors were discovered in the document reviewing welfare compliance systems. Critics question the report's reliability despite official assurances that its core findings remain intact.