WashingtonCyber scams have cost $13 billion since 2023.
Victims lose savings while trafficked workers forced to run scams go uncounted.
Scam money moves through ordinary transfers into mule accounts, then crypto, and only a shared reporting key reveals the pattern.
Treasury wants banks to flag these transfers so FinCEN can trace scam networks.
How each outlet framed it
- The Record
- FinCEN quantifies $12.7B in crypto scams (33K+ reports, 2023-25) with 11% monthly growth as centers expand beyond Myanmar/Cambodia/Laos
Sources: The Record