The U.S. Treasury's Financial Crimes Enforcement Network (FinCEN) has issued a new alert and accompanying data analysis, urging banks, credit unions, digital asset exchanges, and securities firms to improve their reporting on overseas scam centers that target Americans. These scams often involve fraudulent investment schemes, particularly in digital assets like cryptocurrencies. FinCEN examined financial activity across 33,904 filings, though the actual losses may be different due to possible double-counting of transactions. Based on the dollar amounts listed in filings referencing a specific keyword from FinCEN’s 2023 alert—known as the "pig butchering" scam—reported damages from such scams between September 2023 and the end of 2025 are estimated at roughly $12.7 billion. To help institutions identify these scams more effectively, FinCEN has introduced a new keyword for suspicious activity reports: "FIN-2026-SCAMCENTERS." Financial institutions are now expected to use this keyword when reporting potential scam center involvement. In addition, they are being asked to include more detailed information in structured fields, such as chat logs, scammer phone numbers, social media handles, cryptocurrency wallet addresses, transaction hashes, and URLs victims were told to use for deposits. This additional data is intended to help law enforcement and financial institutions trace and potentially stop these scams more effectively. Despite these efforts, only 1,300 institutions filed reports, and nearly 30% of those—10,082 cases—involved the exploitation of elderly victims. Since 2015, FinCEN’s Rapid Response Program has intercepted $1.8 billion and recovered just over $1 billion for 5,790 U.S. victims. This highlights the difficulty institutions face in detecting these scams after the money has already been transferred, and the relatively small amount of funds recovered compared to the total at risk. Gene Lange, who effectively serves as the Under Secretary for Terrorism and Financial Intelligence, has described these scams as "one of the most significant fraud threats facing Americans today." The challenge lies not only in identifying the schemes but also in recovering the funds after they have been sent overseas. As these scams evolve, the need for improved reporting and collaboration between financial institutions and regulatory agencies becomes increasingly urgent.