In a case involving dozens of defendants who orchestrated the importation and distribution of methamphetamine, BSA records helped investigators trace the flow of drug proceeds. The records, including Form 8300s and CTRs helped identify the cash purchase of a high-end automobile, and the flow of…
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Case summary: In a key decision, a defendant went to trial after pleading not guilty to two counts of structuring. Notably, in this case, prosecutors did not bring money laundering charges against the defendant because there was no indication that the structured currency resulted from any…
Agents with the Bureau of Alcohol, Tobacco, Firearms and Explosives conducted an investigation into the illegal sale of cigarettes that led to the indictment of 13 defendants. Cigarettes that were purchased in a low tax state were sold in a high tax state without the payment of taxes in either…
In March 2002, the FBI opened an investigation into the activities of a hawala dealer in the western United States. Limited initial information received from a citizen complaint prompted a query of the BSA database. The query yielded 30 SARs and 13 CTRs, which were instrumental in identifying…
An individual walked into a Pennsylvania bank and opened one individual account and two business accounts. The individual then walked across the street to a different bank and opened three additional accounts. Unbeknownst to the individual, these two banks were in the process of merging and his…
A Suspicious Activity Report filing prompted a Bureau of Immigration and Customs Enforcement investigation into the activities of a subject from another country. The Suspicious Activity Report alleged that after an initial account opening deposit, the subject had structured deposits exceeding $…
In a case that started with the discovery of structuring at a local credit union, investigators found corruption and kickbacks on the part of public transit and utilities officials. With some corrupt officials asking for a percentage in kickbacks on multi-million dollar contracts, the…
In a case jump-started from an international law enforcement alert, investigators searched BSA records for a drug trafficking investigation and found a number of SARs describing international wire transfers. Previously, a local drug task force had identified the ringleader, but only as a low-…
Case summary: In a proactive use of CTRs, the financial intelligence director with the Manhattan district attorney's office has identified hundreds of businesses that are using check cashers rather than banks as a means of evading Federal, State, and local taxes. The businesses have created, in…
A series of CTRs proved crucial in identifying bank accounts used to hide proceeds obtained through insurance fraud. The fraud involved a contractor who misrepresented the number of workers in his temporary employment service. Authorities used BSA data to identify assets belonging to…