FinCEN ALERTS FINANCIAL INSTITUTIONS TO CONVERTIBLE VIRTUAL CURRENCY SCAM INVOLVING TWITTER

On 16 July, FinCEN issued an Alert about a high-profile scam (well-publicised in the press) exploiting Twitter accounts to solicit fraudulent payments denominated in convertible virtual currency (CVC). Cyber threat actors compromised the accounts of public figures, organisations, 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.  FinCEN says that 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.

https://www.fincen.gov/news/news-releases/fincen-alerts-financial-institutions-convertible-virtual-currency-scam-involving

 

 

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Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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