Bank Secrecy Act (BSA) reporting data disclosed by the Treasury Department’s Financial Crimes Enforcement Network (FinCEN) revealed a significant spike in the use of cryptocurrency to finance human trafficking.
FinCEN’s latest financial trend analysis, which pulled BSA reporting data from January 2020 to December 2021, highlighted the evolving tactics of cybercriminals to exploit cryptocurrencies, like bitcoin, to finance human trafficking and online child sexual exploitation (OCSE).
