FinCEN ties $13B in crypto scams to non-US operations
Summary
FinCEN identified about $12.7 billion in crypto transactions tied to overseas scam centers, based on more than 33,000 suspicious-activity reports filed from September 2023 to December 2025. The broader analysis found nearly $13 billion in suspected crypto scam activity, including pig-butchering, romance scams, and “cryptocurrency confidence schemes” that lure victims with false promises of high returns. FinCEN said these scams are among the biggest fraud threats facing Americans and are largely run by transnational criminal groups in Southeast Asian compounds. Some affected countries are responding with tougher laws, including proposed or approved penalties for operators who use coercion, violence, or detention to force participation.
