Newsroom

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…

A SAR filed by a financial institution in Pennsylvania led to a joint investigation by the IRS/Criminal Investigation, the U.S. Postal Inspection Service, and the FBI into a network of Brazilian nationals that used U.S. banks to launder the proceeds generated from stolen checks. Additional SARs…

Three family members pled guilty to charges including bankruptcy fraud, structuring, providing false statements, and mail fraud for their involvement in a bankruptcy fraud scheme that included structuring transactions and concealing funds from credit card companies and financial institutions,…

A U.S. Customs Service investigation in Houston of a criminal organization involved in the repackaging and exportation of stolen commercial baby formula was aided by an analysis of SAR filings and CTRs. The criminal network, which operated in several states, laundered their illicit profits…

An illegal alien pleaded guilty to stealing Social Security numbers, fabricating names, and swindling almost $2 million dollars from credit card companies.

The defendant’s name surfaced in the course of an investigation into organized criminal activity. Suspicious Activity Reports document…

In May 2002, three (3) principals and the former treasurer of a group of metal trading companies were charged with conspiracy to commit bank fraud, mail fraud, and wire fraud in connection with a sophisticated international scheme to defraud banks worldwide of more than $600 million. The…

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…

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…

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…

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…