This web page can be viewed better with javascript enabled.
www.fincen.gov header image

To download Adobe Acrobat Reader, download PowerPoint Viewer or download Excel Viewer, please visit Accessibility page.

To view or print PDF content, download the free Adobe Acrobat Reader.

Download PDF Version PDF     Print this page Print


SARs Lead to Approximately $427,000 Being Seized from an Unlicensed Money Remitter

Information gleaned from a review of SARs filed by financial institutions identified two brothers who are under investigation for operating an illegal money remitter business. USCS agents have documented in excess of $12 million being wired to foreign locations, primarily Singapore and Indonesia, over the past three years.

In October 2002, federal agents executed a seizure warrant on a bank account controlled by one of the subjects. Pursuant to the warrant, approximately $318,000 was seized. A search warrant was also executed on one of the subject's residences, where approximately $74,000 in currency, along with numerous documents related to the operation of a wire remitter service was seized. Approximately $35,000 was seized from the other subject's bank account.

Both subjects admitted to operating a hawala-type business from the residence.

(Source: U.S. Customs Service)

[Published in The SAR Activity Review Trends, Tips & Issues, Issue 5, February 2003]





Accessibility