FDIC Insured – Backed by the full faith and credit of the US Government
The Financial Crimes Enforcement Network (FinCEN) is issuing this Notice to alert financial institutions about the potential for fraud, ransomware attacks, or similar types of criminal activity related to COVID-19 vaccines and their distribution.
As of December 28, 2020, the U.S. Food and Drug Administration (FDA) has issued two emergency use authorizations for COVID-19 vaccines in the United States. COVID-19 vaccine fraud may include the sale of unapproved and illegally marketed vaccines, the sale of counterfeit versions of approved vaccines, and illegal diversion of legitimate vaccines.
Already, fraudsters have offered, for a fee, to provide potential victims with the vaccine sooner than permitted under the applicable vaccine distribution plan. In addition, cybercriminals, including ransomware operators, will continue to exploit the COVID-19 pandemic alongside legitimate efforts to develop, distribute, and administer vaccines. FinCEN is aware of ransomware directly targeting vaccine research, and FinCEN asks financial institutions to stay alert to ransomware targeting vaccine delivery operations as well as the supply chains required to manufacture the vaccines. Financial institutions and their customers should also be alert to phishing schemes luring victims with fraudulent information about COVID-19 vaccines.
Additional COVID-19-related information, including advisories and notices, can be found on FinCEN’s website at https://www.fincen.gov/coronavirus, which also contains information on how to register for FinCEN Updates.
Please visit our Coronavirus Update Page for the latest information as it relates to Mechanics Cooperative Bank.