AML/BSA Industry Pandemic Resources
While fraud schemes are a constant in the industry, the COVID-19 pandemic is a reminder to be vigilant in the fight against financial crime.
FBI Sees Rise in Fraud Schemes Related to the Coronavirus (COVID-19) Pandemic
Scammers are leveraging the COVID-19 pandemic to steal your money, your personal information, or both. Don’t let them. Protect yourself and do your research before clicking on links purporting to provide information on the virus
FinCEN Notice to Financial Institutions Regarding COVID-19
FinCEN requests financial institutions affected by the COVID-19 pandemic to contact FinCEN and their functional regulator as soon as practicable if a COVID-19-affected financial institution has concern about any potential delays in its ability to file required Bank Secrecy Act (BSA) reports.
INTERPOL warns of financial fraud linked to COVID-19
INTERPOL is encouraging the public to exercise caution when buying medical supplies online during the current health crisis, with criminals capitalizing on the situation to run a range of financial scams.
COVID-19 Fraud Resource Page - US Department of Justice
The Department of Justice is remaining vigilant in detecting, investigating, and prosecuting wrongdoing related to the crisis. In a memo to U.S. Attorneys, Attorney General Barr said, "The pandemic is dangerous enough without wrongdoers seeking to profit from public panic and this sort of conduct cannot be tolerated."
Coronavirus Scams: What the FTC is doing
The FTC and FDA have jointly issued warning letters to seven sellers of unapproved and misbranded products, claiming they can treat or prevent the Coronavirus.
The FBI is warning the health care industry in particular of an increased potential for fraudulent activity dealing with the purchase of COVID-19-related medical equipment.
This notice updates the Financial Crimes Enforcement Network’s (FinCEN’s) March 16, 2020 COVID-19 Notice,[1] provides additional information to assist financial institutions in complying with their Bank Secrecy Act (BSA) obligations during the COVID-19 pandemic, and announces a direct contact mechanism for urgent COVID-19-related issues.
COVID-19 cyber scams in Canada
Criminals continue to try to sucker people worried about the Covid-19 pandemic into making mistakes that infect their computer. According to security vendor Proofpoint, one of the latest is an email that pretends to be from the Public Health Agency of Canada.
Canadian Anti-Fraud Centre list of potential COVID-19 scams
As COVID-19 continues to spread globally, watch out for associated scams. Fraudsters want to profit from consumers' fears, uncertainties and misinformation. Fraudsters are exploiting the crisis to facilitate fraud and cyber crime.
COVID-19 Alert: Insurance Scams Appearing, May Spread
Fake coronavirus health coverage and other insurance schemes are beginning to surface as scammers continue exploiting the pandemic for personal profit at consumer expense, warns the Coalition Against Insurance Fraud.
