FIBA Alerts: FinCEN Issues Notice on the Use of Counterfeit U.S. Passport Cards to Perpetrate Identity Theft and Fraud Schemes at Financial Institutions

by | Apr 16, 2024 | News and Alerts

The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN), in close coordination with the U.S. Department of State’s Diplomatic Security Service (DSS), is issuing this Notice to financial institutions urging them to be vigilant in identifying and reporting suspicious activity related to the use of counterfeit U.S. passport cards for identity theft and fraud schemes.

This fraud occurs in person at financial institutions and involves an individual impersonating a victim by using a counterfeit U.S. passport card that contains the victim’s actual information. Illicit actors are counterfeiting U.S. passport cards because U.S. passport cards are a less familiar form of U.S. government-issued identification, thereby potentially decreasing the likelihood of detection by financial institutions. 

This Notice: (i) provides an overview of several typologies related to U.S. passport card fraud; (ii) highlights select technical, behavioral, and financial red flags to assist financial institutions in identifying and reporting suspicious activity; and (iii) reminds financial institutions of their reporting requirements under the Bank Secrecy Act (BSA). 

U.S. Passport Card:

The U.S. passport card is a REAL ID compliant identity and travel document issued by the U.S. Department of State for use by U.S. citizens. It can be used for purposes of identity, proof of U.S. citizenship, domestic air travel, and land and sea border crossings into the United States from Canada, Mexico, the Caribbean, and Bermuda.

Suspicious Activity Report (SAR) Filing Request

FinCEN requests that financial institutions reference this Notice by including the key term “FIN-2024-NTC1” in SAR field 2 (Filing Institution Note to FinCEN) and the narrative and select SAR field 34(z) (Fraud – other) and include the term “Passport Card” in the text box. In addition to filing a SAR, financial institutions are encouraged to refer their customers who may be victims of U.S. passport card fraud to DSS. Victims and financial institutions can report U.S. passport card fraud by contacting their nearest DSS field office or sending an email to DSS at DS_DO_USPCFraud@state.gov

News Release

Notice