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Case Examples
Federal law enforcement agencies conducting a tax refund fraud investigation uncovered at least $13.1 million in fraudulently obtained federal and state tax refunds. The lead investigator in the case said the investigation began when a bank reported anomalous automated clearing house (ACH) credits…
Case Examples
In early 2012, FinCEN conducted outreach to all of its state and local law enforcement partners, and asked for cases where FinCEN data played a useful role in their investigations. Below, in their own words, is an example of how FinCEN's stakeholders use FinCEN data. It has been edited only for…
Case Examples
A suspect who owned a business that imported edible delicacies was sentenced to 15 months in federal prison for undervaluing the imported Asian delicacy in documentation provided to Immigration and Customs Enforcement.The suspect pleaded guilty to structuring financial transactions to avoid…
Case Examples
A SAR filing by a credit union in Rapid City, South Dakota was instrumental in uncovering a massive scheme by individuals to embezzle approximately $2.7 million from a South Dakota College. The investigation was conducted by IRS-CID, FBI, the Department of the Interior, and the Department of…
Case Examples
Four individuals involved in the distribution and sale of marijuana were sentenced to prison terms ranging 12 to 21 months followed by up to 36 months probation. These sentences resulted from guilty pleas by the targets on one count each of money laundering for the manner in which they handled…
Case Examples
SARs filed by a bank resulted in the initiation of an investigation by the IRS. Three (3) family members pled guilty to conspiring to obstruct the IRS from ascertaining their true income tax liabilities for tax years 1978 through 1995 by filing false tax returns and structuring currency transaction…
Case Examples
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. Operating under various enterprise names, the defendant obtained HGH from…
Case Examples
A purported entrepreneur convinced scores of individuals to invest in ventures and businesses supposedly related to the extraction of natural resources that were, in reality, part of a sophisticated Ponzi scheme. The defendant followed a familiar pattern evident in such schemes: paying earlier…
Case Examples
In early 2012, FinCEN conducted outreach to all of its state and local law enforcement partners, and asked for cases where FinCEN data played a useful role in their investigations. Below, in their own words, is an example of how FinCEN's stakeholders use FinCEN data. It has been edited only for…
Case Examples
In March 2002, the founder and former president of a small bank pled guilty to structuring financial transactions. The banker had earlier argued that he was merely trying to gain customers for the bank. The case involved the banker asking an individual if he and his father could deposit money at…