Banks have welcomed fresh powers to protect international students vulnerable to money laundering schemes linked to cryptocurrency and crypto ATMs.

Changes to anti-money laundering and counter terror laws were announced by Home Affairs Minister Tony Burke in a speech at the National Press Club on Thursday.

Banks will now have the power to disrupt the use of mule accounts by money launderers, which involves criminals taking over legitimate bank accounts.

A bank will be able to check a visa-holder's status when they suspect "mule activity".

They can then use this to help decide whether the account is being used by criminals and whether to close them.

Senior lecturer Anton Moiseienko said visa information would be useful to banks because of international students or other visa holders be

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