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ABA: The American Bankers Association
Compliance News

FinCEN Issues Notice on COVID-19 Vaccine Scams

The Financial Crimes Enforcement Network on Dec. 28 issued a notice on COVID-19 vaccine and distribution scams and included information about filing reports of COVID-19-related suspicious activities. FinCEN said fraudsters have offered to provide potential victims with the vaccine sooner than permitted and that vaccine fraud may include the sale of unapproved and illegally marketed vaccines, sale of counterfeit versions of approved vaccines and illegal diversion of legitimate vaccines.

The notice provided information about what banks should include in suspicious activity reports about suspected COVID-19 related scams and requested filers include detailed information.