WASHINGTON—The Financial Crimes Enforcement Network (FinCEN) has issued a notice calling attention to an increase in online child sexual exploitation (OCSE).
The notice offers specific suspicious activity report (SAR) filing instructions and reports on OCSE-related financial trends.
The notice also highlights an increase in crimes related to the funding, production, and distribution of OCSE materials. FinCEN said the increase in activity during COVID-19 is likely due to higher internet usage by children, including unsupervised and traditional school hours, restricted travel during the pandemic resulting in more online usage by offenders, and increased access to the use of technology.
According to FinCEN, a review of SARs filed between 2017-2020 shows there was a 147% increase in SARs filed related to OCSE. The notice also calls out an increase in the use of crypto and P2P mobile apps associated with these to avoid detection.
FinCEN is asking financial institutions to provide all pertinent information in the SAR and to use the keyword “OCSE-FIN-2021-NTC3” to reference any connection between the suspicious activity and the notice.