Bill to Protect Older North Dakotans from Criminals who use Crypto ATMs to steal on its way to Governor

Scams involving cryptocurrency ATMs are on the rise. During this ND Legislative session we've been fighting to pass North Dakota House Bill 1447, which will create important consumer protections to save older North Dakotans from having their life savings stolen by criminals. And, thanks to our member's voices and bill sponsor Rep. Steve Swiontek, we are nearing the finish line! The bill has passed the House and Senate and now heads to Governor Armstrong to sign.

What Are Cryptocurrency ATMs?
Cryptocurrency ATMs, also known as “crypto kiosks” or “virtual currency kiosks,” can be found in supermarkets, convenience stores, gas stations, bars, and restaurants. Crypto ATMs look like bank ATMs and allow people to conduct legitimate financial transactions, such as buying or selling cryptocurrency.

However, because crypto ATMs are largely unregulated at the state level compared to traditional financial institutions and money service businesses, they lack sufficient consumer fraud protections. As a result, criminals are exploiting crypto ATMs to steal hundreds of millions of dollars from Americans each year through fraudulent purchase schemes.

Perpetrators convince individuals that they must address an urgent financial matter, directing them to withdraw large amounts of cash from their banks. The individual then inserts that money into a crypto ATM via a digital QR code, and it’s transferred to the criminal.

In 2023, the FBI received over 5,500 complaints involving crypto kiosks, and Americans reported over $189 million in stolen funds. Fraud is significantly underreported, so the amount stolen is likely far higher. In North Dakota, more than $6 million was stolen through cryptocurrency fraud in 2023.

Pass Legislation to Deter Criminals From Using Crypto ATMs to Steal from Older North Dakotans
AARP supports legislation that will deter criminals from using crypto ATMs for fraudulent activity and establish important consumer protections. HB 1447 passed the House on February 17. The current version of the bill includes provisions to:

• License cryptocurrency ATM operators in the state
• Impose daily transaction limits to avoid potential risks associated with higher transactions
• Post fraud warning notices that are visible and identify steps people should take if they suspect fraudulent activity
• Clearly display terms and conditions before a transaction, including any fees charged and the exchange rate
• Give receipts with relevant transactional information, which allow law enforcement to investigate immediately

Join AARP ND’s Fight Against Fraud

As part of its ongoing efforts to fight against fraud, AARP ND strongly supports HB 14447 and urges state lawmakers to pass it this session.


Your voice matters! Contact your legislators today. Tell them to stop criminals from using cryptocurrency ATMs to steal older North Dakotans retirement savings. Take action here.