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Brief
On August 04, 2025, the Financial Crimes Enforcement Network (FinCEN) issued an update regarding FinCEN Issues Notice on the Use of Convertible Virtual Currency Kiosks for Scam Payments and Other Illicit Activity. The notice urges financial institutions to be vigilant in identifying and reporting suspicious activity involving CVC kiosks, highlighting red flag indicators and reminding them of their reporting requirements under the Bank Secrecy Act (BSA). This action supports Treasury's mission to counter fraud and other illicit activities.
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