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PDF Download : Issue 23-story4.pdf
Investigators opened a case after receiving a call from a family friend of a wealthy elderly woman who suspected the woman was being taken advantage of financially. With this information the law enforcement officials proceeded to research BSA documents and found SARs describing structuring on the part of the subjects acquainted with the woman.
PDF Download : Issue 20-story1.pdf
While investigating a subject of interest because of previous criminal activity, Federal agents found multiple SARs indicating repeated cash-out transactions designed to avoid reporting requirements. Investigators found SARs filed over several years on an owner and operator of a business, and his wife, detailing a pattern of structuring. One SAR noted that over 30 cash withdrawals were made in a 90-day period, all for just under $10,000.
PDF Download : Issue 21-story3.pdf
In a case that highlights how thoughtful analysis of FinCEN records can aid in an investigation, Federal law enforcement agents asked for FinCEN’s assistance analyzing records associated with a lawyer, and to help trace stolen funds derived from insurance settlements. As a result, a personal injury lawyer pleaded guilty to embezzling millions of dollars from clients.
PDF Download : Issue 18-story 5.pdf
BSA information played a key role in the investigation and prosecution of a major drug trafficker. The information allowed investigators and prosecutors to identify additional accounts as well as measures that the defendant took to hide his illicit gains.
PDF Download : Issue 19-story9.pdf
In a case where political corruption led to bid rigging of public housing contracts in order to defraud the government, BSA records proved instrumental in understanding the scheme. In this case, perpetrators repeatedly structured financial transactions in order to hide business relationships and launder funds.
PDF Download : Issue 18-story 8.pdf
Law enforcement initiated an investigation into a defendant for operating an unlicensed money transmitting business and assisting the business in the avoidance of Office of Foreign Asset Control (OFAC) sanctions on a designated country.
PDF Download : Issue 18-story 7.pdf
A proactive review of BSA filings from several financial institutions led law enforcement to investigate the operator of a charitable organization who had structured over $1 million. The defendant pleaded guilty to structuring and the filing of a false tax return, and was sentenced to a prison term.
PDF Download : Issue 21-story1.pdf
In a case started from a review of SARs, a specialized mortgage fraud task force launched an investigation that led to charges against two individuals. In addition to the SAR that initiated the case, another SAR described how the defendant became “very upset” when he learned that a Currency Transaction Report (CTR) would be filed because of a series of transactions. In all, FinCEN records captured many of the scheme’s intricate details.
