Currency Transaction Reports Expose Drug Traffickers Laundering Profits Through Casinos | Narcotics Trafficking, Involving SARs, Involving CTRs, Casinos and Card Clubs
Financial data, collected from financial institutions by the Financial Crimes Enforcement Network under the Bank Secrecy Act (BSA), has proven to be of considerable value in money laundering, terrorist financing and other financial crimes investigations by law enforcement. When combined with other data collected by law enforcement and the intelligence communities, FinCEN data assists investigators in connecting the dots in their investigations by allowing for a more complete identification of the respective subjects with information such as personal information; previously unknown addresses; businesses and personal associations; banking patterns; travel patterns; and communication methods.
FinCEN’s Law Enforcement Awards
Every year, FinCEN holds its Law Enforcement Awards ceremony, which recognizes successfully prosecuted cases. The goals of the program are to recognize those law enforcement agencies that made effective use of financial institution reporting to obtain a successful prosecution and to demonstrate to the financial industry the value of its reporting to law enforcement. The program also emphasizes that prompt and accurate reporting by the financial industry is vital to the successful partnership with law enforcement to fight financial crime. FinCEN receives case submissions from law enforcement for the program, and in all cases, the use of BSA reporting by the financial industry provided highly noteworthy added value to significant investigations. Case summaries for many of the submissions are described in the press releases below:
- FinCEN Announces Recipients of Its Law Enforcement Awards During Tenth Annual Ceremony (2024)
- FinCEN Holds Annual Ceremony to Recognize Law Enforcement Cases Supported by BSA Data (2023)
- Annual FinCEN Program Recognizes Law Enforcement Cases Supported by BSA Data (2022)
- FinCEN Recognizes the Significant Impact of Bank Secrecy Act Data on Law Enforcement Efforts (2021)
- FinCEN Recognizes Law Enforcement Cases Significantly Impacted by Bank Secrecy Act Filings (2020)
- FinCEN Holds Fifth Annual Awards Program to Recognize Importance of Bank Secrecy Act Reporting by Financial Institutions (2019)
- FinCEN Director’s Law Enforcement Awards Program Recognizes Significance of BSA Reporting by Financial Institutions (2018)
- FinCEN Awards Recognize Law Enforcement Success Stories Supported by Bank Secrecy Act Reporting (2017)
- FinCEN Awards Recognize Partnership Between Law Enforcement and Financial Institutions to Fight Financial Crime (2016)
- FinCEN Recognizes High-Impact Law Enforcement Cases Furthered through Financial Institution Reporting (2015)
Search Case Examples Prior to 2015 Using the Drop-Down Menu Below
SAR Assists in Identifying Money Remitter Sending Money to Iraq | Money Services Businesses
SARs Identify Internal Fraud at Local Bank | Involving SARs, Fraud, Depository Institutions
Suspicious Activity Reports “Extremely Helpful” in Structuring Conviction Related to International Lottery Scheme | Involving SARs, Schemes and Scams, Depository Institutions, BSA Violations
Proactive SAR Review Leads to Guilty Pleas in Structuring, Bank Fraud Case | Involving SARs, Fraud, Depository Institutions, BSA Violations
Securities Dealer Provides Details of High Yield Investment Program Scheme | Broker Dealers, Money Laundering, Involving SARs, Fraud
Attorney General’s Office Case Example (Tax Fraud) | Fraud, Tax Crimes
Former Bank Executive Pleads Guilty to Stealing from the Bank | Involving SARs, Schemes and Scams, Depository Institutions
SAR Filing Leads to Identification of Elaborate Ponzi Schemes | Money Laundering, Involving SARs, Fraud, Schemes and Scams, Depository Institutions, BSA Violations
SARs Lead to Approximately $427,000 Being Seized from an Unlicensed Money Remitter | Money Services Businesses
Travel Agent Convicted | Money Laundering, Involving SARs, Involving CTRs, BSA Violations
SARs Reveal Multi-Million Dollar Illicit Business | Money Laundering, Involving SARs, Depository Institutions, BSA Violations
Bogus Life Insurance Investment Vehicles Identified through SAR Filing | Involving SARs, Fraud, Schemes and Scams, Depository Institutions, Insurance Companies
State Agency Case Example (Insurance Fraud) | Fraud, Involving CTRs, Money Services Businesses, Insurance Companies
Identity Thief Receives Nearly 4 Years in Prison | Involving SARs, ID Crimes, Depository Institutions
SAR Filing Trips Up Card Thief | Depository Institutions, BSA Violations
SARs Result in Sentencing of Family Members in Bankruptcy Fraud Case | Broker Dealers, Involving SARs, Fraud, Depository Institutions, BSA Violations
BSA Records Identify Accounts and Transactions Related to an Illegal Gambling Enterprise | Money Laundering, Other Crimes, Depository Institutions, BSA Violations
SARs Help Investigators Stop Fraudsters in Elder Financial Exploitation Case | Involving SARs, Fraud, BSA Violations, Tax Crimes
SARs Lead to Serial Mortgage Fraud Offender | Involving SARs, Fraud, Depository Institutions, BSA Violations, Tax Crimes
Suspicious Activity Report Describes in Great Detail Bank Embezzlement Scheme, Leads to Guilty Plea | Money Laundering, Involving SARs, Depository Institutions
Analysis of SAR Filings and CTRs Leads to Indictments of Criminal Organization | Money Laundering, Involving SARs, Involving CTRs
Insider Fraud Contributes to Bank Failure | Involving SARs, Depository Institutions, Check Crimes
SAR Filing Unveils Customs Fraud | Money Laundering, Involving SARs, Depository Institutions
Stock Fraud Cheats Elderly out of $100 Million | Broker Dealers, Money Laundering, Involving SARs, Involving CTRs