FinCEN Advisory - COVID-19 Medical Scams

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FinCEN Advisory - COVID-19 Medical Scams

Advisory on Medical Scams Related to the Coronavirus

Disease 2019 (COVID-19)

 

The Financial Crimes Enforcement Network (FinCEN) is issuing this advisory to alert financial institutionsto rising medical scams related to the COVID-19 pandemic. This advisory contains descriptions of COVID-19-related medical scams, case studies, red flags, and information on reporting suspicious activity. This is the first of several advisories FinCEN intends to issue concerning financial crimes related to the COVID-19 pandemic. 

 

These advisories are based on FinCEN’s analysis of COVID-19-related information obtained through public reports, Bank Secrecy Act (BSA) data, and law enforcement partners. FinCEN will issue financial analyses and intelligence, as appropriate, to financial institutions to help them detect, prevent, and report suspected illicit activity. Additionally, FinCEN has temporarily expanded its Rapid Response Program, which supports law enforcement and financial institutions in the recovery of funds stolen via fraud, theft, and other financial crimes related to COVID-19.

 

https://www.fincen.gov/sites/default/files/advisory/2020-05-18/Advisory%20Medical%20Fraud%20Covid%2019%20FINAL%20508.pdf

 

Kelly Goulart  - Regulatory Compliance Manager

Direct = 512-275-2231  Email = kgoulart@ibat.org