FINANCIAL CRIMES ENFORCEMENT NETWORK ALERTS FINANCIAL INSTITUTIONS TO CONVERTIBLE VIRTUAL CURRENCY SCAM INVOLVING TWITTER

August 10, 2020

Financial Crimes Enforcement Network Alerts Financial Institutions to Convertible Virtual Currency Scam Involving Twitter

Immediate Release

The Financial Crimes Enforcement Network (FinCEN) is emphasizing a high-profile scam exploiting Twitter accounts to solicit fraudulent payments denominated in convertible virtual currency (CVC). Cyber threat actors compromised the accounts of public figures, organizations, and financial institutions to solicit payments to CVC accounts, claiming that any CVC sent to a wallet address would be doubled and returned to the sender. It is critical that CVC exchanges and other financial institutions identify and report suspicious transactions associated with this type of activity as quickly as possible.

Read the alert here.

For financial red flag indicators of illicit CVC activity, please see: FinCEN Advisory on Illicit Activity Involving Convertible Virtual Currency.

For additional information on reporting cyber events, including on how to file Suspicious Activity Reports, please see: FinCEN Cyber Event FAQs.

  • Financial Institution
  • Depository Institutions
  • Money Services Businesses

#FinCEN, #CVC, #ConvertibleVirtualCurrency, #Twitter, #Modevity,

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August 10, 2020