FinCEN advisory highlights increased cybercrime risks curing COVID-19

On July 30, 2020, the Financial Crimes Enforcement Network (FinCEN) released an advisory that signals its focus on cybercrime arising from vulnerabilities potentially created by the COVID-19 pandemic. The “Advisory on Cybercrime and Cyber-Enabled Crime Exploiting the Coronavirus Disease 2019 (COVID-19) Pandemic” (the Advisory) explains how cybercriminals are using the COVID-19 pandemic to their advantage, capitalizing on remote access and exploiting financial institutions, businesses, and their customers to commit fraud, identity theft, and generally disrupt business.

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