In brief
- FinCEN analyzed 33,904 suspicious activity reports filed between September 2023 and December 2025.
- About 1,300 institutions filed them, with crypto money services businesses reporting most often and banks reporting the largest sums.
- Older Americans were not disproportionately victimized, contradicting a common assumption about these scams.
The Treasury Department’s Financial Crimes Enforcement Network has tied roughly $12.7 billion in suspicious financial activity to crypto investment scams run out of Southeast Asian compounds, in an analysis and an alert published Thursday.
Some 1,300 institutions filed the 33,904 reports, covering September 2023 to December 2025. Money services businesses, mostly crypto firms, filed 55% and…
