FinCEN Sees Increase in BSA Reporting Involving the Use of Convertible Virtual Currency for Online Child Sexual Exploitation and Human Trafficking

 FinCEN Sees Increase in BSA Reporting Involving the Use of Convertible Virtual Currency for Online Child Sexual Exploitation and Human Trafficking

The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued a Financial Trend Analysis (FTA) today reflecting an increase in Bank Secrecy Act (BSA) reporting associated with the use of convertible virtual currency and online child sexual exploitation and human trafficking. This FTA is based on BSA reporting filed between January 2020 and December 2021.

News Release: https://www.fincen.gov/news/news-releases/fincen-sees-increase-bsa-reporting-involving-use-convertible-virtual-currency

Financial Trend Analysis: https://www.fincen.gov/sites/default/files/shared/FTA_Human_Trafficking_FINAL508.pdf