FinCEN Warns Financial Institutions of Crypto Kiosk Scams

Description

The U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN) has issued a notice urging financial institutions to watch for suspicious activity tied to crypto kiosks.d These convertible virtual currency (CVC) kiosks, which allow users to access and transact in cryptocurrency, offer consumers a simple way to buy crypto, the money laundering watchdog said. Yet, FinCEN said these are being exploited by criminals to engage in fraud, cybercrime and drug trafficking. The agency pointed to a growi...