The U.S. Financial Crimes Enforcement Network (FinCEN) reports that roughly $13 billion tied to crypto scams is linked to non-U.S. operations. FinCEN says the activity is largely run by “transnational criminal organizations” based in compounds in parts of Southeast Asia, and that the scams target U.S. residents.
FinCEN’s monthly reporting indicates the total connected to these scams increases over time. Decrypt reports an average rise of about 18% month over month, and says the locations associated with the activity appear to be expanding beyond Southeast Asia into other parts of the region. Cointelegraph similarly emphasizes the overseas, compound-based nature of the operations and the cross-border targeting of U.S. victims. The outlets differ mainly on the degree of geographic spread and the specific approximate figure ($13B versus $12.7B), but both describe FinCEN tying large sums to overseas crypto fraud schemes.
