FinCEN Warns the US Public of Increases in Crypto Scams at ATMs
The US Financial Crimes Enforcement Network (FinCEN) has cautioned that fraudsters are increasingly targeting victims through scams involving cryptocurrency ATMs. In a recent advisory, FinCEN called on banks and other financial firms to be vigilant about any dubious behavior related to digital currency kiosks (crypto ATMs). The agency noted that while the machines can offer a quick and user-friendly way for people to buy or sell digital coins, they are also easy targets for criminals and con artists. Crypto ATMs function much like traditional cash machines, but with the added function of converting traditional currency into different cryptocurrencies. Users insert…





