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FinCEN Warns Financial Institutions of Crypto Kiosk Scams
The regulator cited a growing number of scams involving crypto kiosks, including fake tech support and bank-related scams.
Updated Aug 5, 2025, 6:20 p.m. Published Aug 5, 2025, 1:47 p.m.
What to know:
- The U.S. Treasury's FinCEN issued a notice warning financial institutions to be vigilant about suspicious activity related to crypto kiosks.
- The regulator cited a growing number of scams involving crypto kiosks, including fake tech support and bank-related scams that disproportionately affect older adults.
- The notice is part of FinCEN's ongoing efforts to track illicit uses of cryptocurrency, including its analysis of crypto transactions potentially tied to smuggling, exploitation and terrorist organizations.
The U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN) has issued a notice urging financial institutions to watch for suspicious activity tied to crypto kiosks.d
These convertible virtual currency (CVC) kiosks, which allow users to access and transact in cryptocurrency, offer consumers a simple way to buy crypto, the money laundering watchdog said. Yet, FinCEN said these are being exploited by criminals to engage in fraud, cybercrime and drug trafficking.
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The agency pointed to a growing number of scams involving payments made through these machines, including fake tech support, customer service impersonation and bank-related scams, some of which disproportionately affect older adults.
“Criminals are relentless in their efforts to steal money from victims, and they’ve learned to exploit innovative technologies like CVC kiosks,” said FinCEN Director Andrea Gacki in a statement.
The notice points out that risks are exacerbated by institutions failing to meet their obligations under the Bank Secrecy Act.
FinCEN has for years been tracking illicit uses involving crypto. Last year, it released a report saying bitcoin became a popular means of payment related to smuggling and exploitation of people. It has also analyzed crypto transactions potentially tied to Hamas.
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AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
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