Regulatory Alerts2025-08-04 | FIN-2025-NTC1Added
FinCEN Notice on the Use of Convertible Virtual Currency Kiosks for Scam Payments and Other Illicit Activity (FIN-2025-NTC1)
FinCEN urges financial institutions to identify and report suspicious activity involving convertible virtual currency kiosks, which are frequently exploited for fraud and money laundering. The notice highlights that in 2024, reported victim losses from CVC kiosk scams reached approximately $246.7 million, representing a 31 percent increase from the previous year. Financial institutions are requested to reference the notice in Suspicious Activity Report filings by including the key term FIN-2025-CVCKIOSK in field 2 and the narrative.