FinCEN warned financial institutions to be more vigilant as overseas scam centers drive a surge in cryptocurrency investment fraud, with more than $12.7 billion stolen from Americans across all 50 states and U.S. territories. The report also highlighted the laundering role of Telegram-based marketplace Xinbi Guarantee, which was sanctioned after helping scammers move billions from Southeast Asia scam compounds. #FinCEN #XinbiGuarantee #Huione #USDT #Ethereum #Tether #USDC
Keypoints
- FinCEN released an alert on overseas scam centers and crypto investment fraud.
- More than 33,000 incident reports showed $12.7 billion stolen from U.S. victims.
- Scams are spreading beyond Myanmar, Cambodia, and Laos, with rising monthly reports.
- Fraudsters use fake romantic or adviser personas and often push victims into crypto transfers.
- The U.S. sanctioned Xinbi Guarantee for laundering billions tied to scam compounds.
Read More: https://therecord.media/treasury-urges-banks-report-cyber-scams