Regulatory Alerts2020-07-09
Advisory on Medical Scams Related to the 2019 Novel Coronavirus (COVID-19) (FinCEN Advisory FIN-2020-A002 Spanish)
The Financial Crimes Enforcement Network (FinCEN) issued this advisory to alert financial institutions to the rise in medical scams related to the COVID-19 pandemic, including fraudulent remedies, delivery failures, and price gouging. The document outlines specific red flags and case studies to help institutions detect, prevent, and report suspicious activities associated with these crimes. It mandates that institutions cite this advisory in Suspicious Activity Reports (SARs) using specific keywords and codes to facilitate law enforcement tracking.
Share