The Financial Crimes Enforcement Network (FinCEN) issued an advisory July 30 to alert financial institutions to potential indicators of cybercrime and cyber-enabled crime observed during the COVID-19 pandemic. Many illicit actors are engaged in fraudulent schemes that exploit vulnerabilities created by the pandemic, according to FinCEN.
The advisory contains descriptions of COVID-19-related malicious cyber activity and scams, associated financial red flag indicators, and information on reporting suspicious activity.
Scams and their associated red flags include:
Targeting and exploitation of remote platforms and processes through fraudulent identity documents and the use of stolen credentials. Red flags include:
Phishing, malware and extortion which are increasingly utilizing offers of COVID-19 information and supplies. Red flags include:
Business email compromise schemes, which in the COVID-19 environment often involve criminals interesting themselves into communications by impersonating a critical player in a transaction. Red flags include:
FinCEN will continue issuing COVID-19-related information to financial institutions to help enhance their efforts to detect, prevent, and report suspected illicit activity on its website.