FinCEN: Overseas Scam Centers Involve $12.7 Billion in Crypto Assets

TechFlow reported that on September 5, according to Cointelegraph, the Financial Crimes Enforcement Network (FinCEN) under the U.S. Department of the Treasury released a new analytical report reviewing more than 33,000 suspicious cryptocurrency fraud reports received between September 2023 and December 2025. Data indicates that cryptocurrency fraud transactions conducted by overseas scam centers totaled approximately $12.7 billion, accounting for the vast majority of all financial transactions identified across the analyzed reports.

The report notes that these criminal activities are primarily orchestrated and executed by transnational crime syndicates operating across Southeast Asia. Perpetrators typically locate their operations within enclosed compounds, employing scam tactics such as "pig-butcher" schemes, online dating fraud, and fake cryptocurrency investments to lure victims into transferring funds. Acting Executive Deputy Director Gene Lange stated in a declaration that digital asset investment fraud is one of the most severe scam threats currently facing Americans.

In response to such cross-border crimes, some affected Southeast Asian countries have begun attempts to strengthen legal regulations. Earlier, Myanmar's parliament passed a new law proposing life imprisonment to punish the use of violence and illegal detention to coerce participants, while Cambodia's legislature also introduced a similar crackdown bill during the same period.