FinCEN Warns of Crypto Kiosk Scams Targeting Elderly
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BTCCSquare news:
The U.S. Treasury's Financial Crimes Enforcement Network (FinCEN) has flagged convertible VIRTUAL currency (CVC) kiosks as emerging tools for financial fraud. Criminals are exploiting these machines to facilitate tech support scams, money laundering, and drug-related transactions—with older adults increasingly targeted.
FinCEN Director Andrea Gacki emphasized the dual nature of CVC kiosks: while legitimate for crypto access, lax compliance by operators enables illicit activity. "Criminals are relentless in their efforts to steal money," Gacki stated, underscoring Treasury's commitment to safeguarding the digital asset ecosystem through tighter financial institution collaboration.
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