The Financial Crimes Enforcement Network (FinCEN), a bureau of the U.S. Department of the Treasury, has issued a notice urging financial institutions to increase vigilance in identifying and reporting suspicious activity related to convertible virtual currency (CVC) kiosks. These kiosks, which allow consumers to access digital currencies, have become targets for illicit use by criminals, including scammers.
According to FinCEN Director Andrea Gacki, “Criminals are relentless in their efforts to steal money from victims, and they’ve learned to exploit innovative technologies like CVC kiosks. The United States is committed to safeguarding the digital asset ecosystem for legitimate businesses and consumers, and financial institutions are a critical partner in that effort. This Notice supports Treasury’s continuing mission to counter fraud and other illicit activities.”
FinCEN noted that criminal activity involving CVC kiosks includes fraud schemes, certain cybercrimes, and drug trafficking operations. These concerns align with three of FinCEN’s Anti-Money Laundering and Countering the Financing of Terrorism National Priorities.
The notice provides an overview of how these kiosks are being used for illegal purposes. It specifically points out an increase in scam payments made through CVC kiosks—such as technology support scams and bank imposter scams—which can particularly affect older adults. The notice also outlines red flag indicators for such activity and reminds financial institutions about their obligations under the Bank Secrecy Act (BSA).
Questions regarding this advisory can be directed to the FinCEN Regulatory Support Section via an inquiry at www.fincen.gov/contact.
The full notice is available online at FIN-2025-NTC1.
