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PDF Download : Issue 20-story6.pdf
Investigators uncovered a large-scale mortgage fraud scheme that originated from a SAR filed on a subject, who turned out to be a victim of the fraud scheme. In addition to filing the SAR, the filing institution also notified the district attorney's office, which opened the investigation and eventually uncovered the fraud.
PDF Download : Issue 20-story5.pdf
Through a proactive review of SARs, a Federal agent identified records detailing structured transactions, unusual withdrawals, and unexplained wire transfers. The subsequent investigation uncovered over $2 million in cash and wire transfers from a drug-related money laundering conspiracy involving individuals in two states.
PDF Download : Issue 23-story2.pdf
A doctor who distributed more high powered pain pills than the largest regional medical center was brought to justice with the help of BSA records. In these types of investigations, proving that the prescriptions for pain relief are unwarranted can be very difficult because doctors often follow the letter of the law by seeing and listening to patients – although in very short sessions. However, a SAR detailed structuring that indicated additional financial crimes.
PDF Download : Issue 23-story1.pdf
Through a proactive review of SARs, law enforcement found that the purveyor of illicit devices structured millions of dollars of proceeds into a financial institution. The devices were a violation of state law and hence led to a charge of money laundering. In the indictment, prosecutors sought almost $7 million in forfeiture.
PDF Download : Issue 21-story6.pdf
A multi-agency task force investigating the illicit importation of human growth hormone (HGH) used SARs and other investigative tools to trace international payments made by illegal distributors throughout the United States.
PDF Download : Issue 21-story4.pdf
Federal prosecutors used information directly derived from FinCEN records to help convict a repeat drug trafficker. The wealth accumulated by the defendant through illicit drug sales became evident with the filing of numerous CTRs documenting transactions at casinos, a Form 8300 filed in conjunction with the purchase of a luxury automobile, and SARs highlighting an attempt to buy an expensive watch through structured transactions.
