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FinCEN published a statement on cybercrime related to COVID-19

The U.S. government, The Financial Crimes Enforcement Network (FinCEN), recently released a statement mentioning the risks and symptoms of serious Internet-related activities since the release of COVID-19.

“Many illegal actors are involved in fraudulent activities that take advantage of the vulnerabilities caused by the pandemic.” FinCEN said in a statement issued on July 30th.

The agency added:

“This release contains descriptions of cyber activity and malicious fraud related to COVID-19 that are associated with financial warning indicators and information on reporting suspicious activity.”

The FinCEN statement was released a few weeks ago after the massive Twitter hack.

FinCEN published a statement on cybercrime related to COVID-19
FinCEN published a statement on cybercrime related to COVID-19

FinCEN was announced after a large-scale attack on Twitter that affected many of the platform’s main accounts, including those of Joe Biden, Elon Musk, and Bill Gates. Internet crime in general has increased since COVID-19 prevention measures were implemented in March. According to previous reports, it has grown 75% more.

“This announcement is intended to help financial institutions identify, prevent, and report potential COVID19 related criminal activity,” FinCEN said in the July 30 statement.

Add:

“This release is based on FinCEN’s analysis of COVID-19 related information derived from data from the Bank Secrecy Act (BSA), open source reports, and law enforcement partners.”

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