The Corporate Transparency Act is real, and the Financial Crimes Enforcement Network is real; however, some letters claiming to be from the Financial Crimes Enforcement Network are not. Scammers have long impersonated government officials; this time, they’re using a new act to confuse business owners into giving up their information.
How the scam works
You receive a letter in the mail that looks very official. It claims to come from the United States Business Regulations Department, Corporate Transparency Act Division, Process and Filing Center. It’s addressed to the business and has a notice ID number. Scammers combine personal information collected from data breaches with official-looking seals and watermarks to make the correspondence seem legitimate.
The letter informs you that you have “reporting obligations under the Corporate Transparency Act” and must report ownership information to the Financial Crimes Enforcement Network.