Law and Legislation

FinCEN, Recent Twitter Hack, & Increasing CyberCrimes.

The United States govt. agency, the Financial Crimes Enforcement Network, or FinCEN, recently put out a notice mentioning the risks and symptoms of web-related nefarious activities occurring since coronavirus arose.

“Many illicit actors are engaged in fraudulent schemes that exploit vulnerabilities created by the pandemic,” FinCEN revealed within a recent 30th July statement.

The agency added:

“This advisory contains descriptions of coronavirus-related malicious cyber activity and scams, associated financial red flag indicators, as well as info on reporting suspicious activity.”

FinCEN & Recent Twitter Hack

FinCEN’s advisory arrives just after a large-scale Twitter breach affected many top accounts, including Joe Biden, Elon Musk and Bill Gates. Cybercrime generally has been on the increase since coronavirus prevention measures took flight in March, up 75% consistent with previous reporting.

“This advisory is meant to assist financial institutions in detecting, preventing and reporting potential coronavirus-related criminal activity,” FinCEN said within the 30th July statement.

FinCEN added:

“This advisory is based on FinCEN’s analysis of coronavirus-related info obtained from BSA [Bank Secrecy Act] data, open source reporting and enforcement partners.”

Leave a Comment

Your email address will not be published.