Crime in the corner store: Florida’s crypto ATM law | Opinion

Florida has a colorful history as a haven for smugglers and scammers. Today, technology has provided these criminals with more sophisticated tools. To fight back, we must understand the fuel that so often drives criminality: money laundering.

When criminals sell illegal or stolen items for cash, they try to then “wash” those funds to make it appear that the money came from legitimate transactions. When scammers steal money from victims, they must hide that money quickly. Specialists in laundering money charge hefty transaction fees as a cost of doing business for criminals.

To combat money laundering, federal regulations require banks to report cash deposits of $10,000 or more. But while the bank’s front door is closed by federal oversight, a new back door has opened wide in our neighborhood gas stations and convenience stores: the crypto ATM.

In 2025, according to the FBI, victims lost more than $333 million in crypto ATM scams, with 85% of the victims being seniors. Florida reported $33 million in victim losses since 2020. In Sunrise since 2025, the reported losses total more than $1 million. The scam is basic — criminals contact seniors, scare them into giving up their savings, then direct victims to a local crypto ATM to pour cash into the machine. The victim’s money is converted to cryptocurrency and instantaneously transferred across the globe. These machines can also launder proceeds from crimes or even send money to fund terrorism.