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In January 2002, an investigation was initiated, subsequent to receiving SARs, into the operation of an unlicensed money remitter.
A foreign bank account, containing approximately $3 million, was frozen at the request of USCS agents. A federal search warrant was also executed at the…
The IRS-Criminal Investigation and the FBI conducted an investigation of several individuals involved in soliciting investments and deposits in a financial institution that falsely claimed Indian tribal authority and offshore-style banking privacy. The defendants used the Internet to solicit…
Suspicious Activity Reports, filed by a credit union and money transmitter, led to the investigation of a retired officer who began accepting bribes while still in military service. The defendant orchestrated a scheme to ensure specific entities were awarded contracts for services related to the…
In order to satisfy fines and restitution ordered as a result of an earlier scheme, two defendants began a new multi-state advertising campaign scheme to attract buyers (mostly elderly) of non-existent certificates of deposits.
As part of the scheme, one of defendants rented office space…
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…
A suspect was sentenced to multiple months in prison and ordered to pay more than $1 million in back taxes owed on several million dollars in income that was never reported to the Internal Revenue Service. The income was earned from two related businesses that the suspect operated during a 4-…
A multi-agency money laundering/marijuana trafficking investigation was initiated following the filing of a SAR by a bank in Tennessee. The SAR disclosed that an individual was depositing large amounts of U.S. currency into three bank accounts. The deposits ranged from $5,000 to $25,000 with the…
A joint investigation conducted by the IRS/CID, DEA, and the Bureau of Alcohol, Tobacco, and Firearms (ATF) was initiated by an analysis of SARs and CTRs filed by banks in Ohio. Two SARs led investigators to accounts that had over $1 million of cash deposits. A search warrant for the defendant’s…
A woman who continually conducted large cash transactions at casinos and structured those funds at her local bank pleaded guilty to a Title 12, Chapter 21 violation concerning record keeping requirements. Prosecutors charged her with a misdemeanor violation because they did not find any evidence…
A nationwide conspiracy to purchase cigarettes in the South and illegally sell them in Northern States resulted in the loss of millions of dollars in state tax revenue. In some cases, the unpaid tax on a carton of cigarettes was almost $40 a carton. Some of the conspirators made trips south to…
