FinCEN Links $12.7B to Crypto Scams in Southeast Asia
- The Financial Crimes Enforcement Network (FinCEN) analyzed 33,904 suspicious activity reports filed from September 2023 to December 2025.
- Approximately $12.7 billion was linked to crypto investment scams originating from compounds in Cambodia, Laos, and Burma.
- Crypto money services businesses filed the majority of reports at 55%, while banks reported the largest sums at $6.4 billion.
- Scammers used at least 22 different digital assets, with proceeds often converted into stablecoins like USDT.
- Elder exploitation appeared in about 25% of reports, aligning with their population share, indicating no disproportionate victimization.
FinCEN’s analysis highlights the significant financial impact of crypto scams run from Southeast Asian compounds, involving a wide range of digital assets and affecting victims across all age groups and states in the U.S.
Despite assumptions, older Americans were not disproportionately targeted by these scams, as evidenced by their representation in suspicious activity reports matching their population share. (Source)
