US Treasury Uncovers $12.7 Billion in Crypto Scam Transactions

US Treasury's Financial Crimes Enforcement Network (FinCEN) has uncovered $12.7 billion in questionable crypto transactions linked to Southeast Asian crime rings.

The agency analyzed 33,904 suspicious activity reports filed by financial institutions between September 2023 and December 2025.

Victims from every US state and multiple territories were impacted, with elderly Americans making up approximately 25% of reported cases.

Criminal enterprises operated out of forced labor facilities in Cambodia, Laos, and Burma, where trafficked workers executed scams targeting US citizens.