In a case that highlights how thoughtful analysis of FinCEN records can aid in an investigation, Federal law enforcement agents asked for FinCEN’s assistance analyzing records associated with a lawyer, and to help trace stolen funds derived from insurance settlements. As a result, a personal…
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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…
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…
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 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…
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…
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…
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…
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…
BSA records helped identify co-conspirators, accounts, and elements of a mortgage fraud scheme that may total as much as $7 million dollars in losses. SAR filings described transactions related to the fraud in both personal and business accounts belonging to the defendant in the case, and CTRs…