FinCEN Ties $13B in Crypto Scams to Non-US Operations
English | News | Markets | Magazine | Research | Commissioned | About
DOGE: $0.08496 (4.29%)
TRX: $0.3314 (0.06%)
LINK: $11.69 (1.88%)
ZEC: $1,027.39 (7.50%)
ADA: $0.2132 (4.74%)
XRP: $1.40 (4.58%)
ETH: $2,455.22 (2.12%)
BTC: $79,813.33 (2.17%)
XMR: $538.76 (2.30%)
BNB: $719.22 (0.79%)
XLM: $0.1796 (3.67%)
SOL: $101.84 (3.23%)
HYPE: $84.21 (1.54%)
Written by Turner Wright (staff writer) and reviewed by Sam Bourgi (staff writer).
The U.S. Financial Crimes Enforcement Network (FinCEN) reported that "transnational criminal organizations" based in Southeast Asia are largely responsible for digital asset scams targeting US residents, totaling $12.7 billion in crypto transactions.
According to a FinCEN report released on September 4, 2026, an analysis of over 33,000 suspected crypto scam reports between September 2023 and December 2025 revealed approximately $13 billion in financial transactions linked to scams involving pig butchering, romance schemes, and "cryptocurrency confidence schemes".
"Digital asset investment scams pose one of the most significant fraud threats facing Americans today," said Gene Lange, performing the duties of Under Secretary for Terrorism and Financial Intelligence.
The report highlights that these scams are primarily conducted by "transnational criminal organizations" operating out of compounds in Southeast Asia.
Lawmakers in affected countries have been taking action, with Myanmar approving legislation in July that could impose life imprisonment for using violence and torture to force people into participating in scams, while Cambodia proposed a similar law in April.