Regulatory Alerts2024-11-13 | FIN-2024-Alert004Added
FinCEN Alert on Fraud Schemes Involving Deepfake Media Targeting Financial Institutions
FinCEN requests that financial institutions reference this alert by including the key term “FIN-2024-DEEPFAKEFRAUD” in SAR field 2 and the narrative when reporting suspicious activity related to deepfake media fraud. The alert outlines typologies where criminals use generative AI to create or alter identity documents to circumvent customer identification and due diligence controls. It provides specific red flag indicators, such as inconsistencies in identity documents, use of webcam plugins during live verification, and patterns of rapid transactions, to help institutions detect and report these schemes.