FinCEN issues alert on virtual currency ‘pig butchering’ investment scams

Move is meant to bring attention to a prominent virtual currency investment scam called “pig butchering”.

The Financial Crimes Enforcement Network (FinCEN) has issued an alert to highlight a prominent virtual currency investment scam known as “pig butchering”.  

FinCEN’s alert explains the scam’s methodology, plus provides behavioral, financial, and technical red flags to help financial institutions identify and report related suspicious activity. And

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