SecurityTechRadarabout 2 hours ago
US Treasury Flags $13B in Scam Losses
4 min read
The US Treasury's FinCEN warned banks about industrial-scale scam centers in Southeast Asia causing nearly $13 billion in losses since 2023. Victims are coerced into fake crypto investments and later re-scammed with recovery fees, with funds laundered via digital assets, mixers, shell firms, and Chinese underground banking networks.
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