Treasury flags $12.7B in crypto scam activity

• FinCEN identified US$12.7 billion in reported financial activity tied to suspected digital asset investment scams.
• The analysis covered 33,904 Bank Secrecy Act reports filed between September 2023 and December 2025.
• FinCEN urged financial institutions to detect and report transactions linked to overseas scam centres.

The US Treasury identified US$12.7 billion in reported financial activity tied to suspected digital asset investment scams.

The Financial Crimes Enforcement Network analysed 33,904 reports involving people across all 50 US states and several territories.

“Digital asset investment scams pose one of the most significant fraud threats facing Americans today,” said Gene Lange, who is performing the duties of Under Secretary for Terrorism and Financial Intelligence.

The US$12.7 billion figure covers reported financial activity rather than confirmed losses suffered by scam victims.

FinCEN said transnational criminal groups based mainly in Southeast Asia operate large scam centres targeting victims through fake identities and websites.

The agency said scammers and money launderers use shell companies, money mules and stablecoin transfers to move suspected proceeds.

FinCEN urged financial institutions to share information and report suspicious activity linked to scam centres using the term “FIN-2026-SCAMCENTERS”.