FinCEN issues notice on the use of counterfeit U.S. passport cards to perpetrate identity theft and fraud schemes at Financial Institutions

FinCEN issues notice on the use of counterfeit U.S. passport cards to perpetrate identity theft and fraud schemes at FIs, providing an overview of typologies associated with U.S. passport card fraud, highlights select red flags to assist FIs in identifying and reporting suspicious activity, and reminds FIs of their reporting requirements under the Bank Secrecy Act…