The Value of FinCEN Data


Magnifying Glass in Front of Bookshelf

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:

Search Case Examples Prior to 2015 Using the Drop-Down Menu Below

Credit Union Files Suspicious Activity Report and Helps Launch Bank Fraud, International Payment Transfers Investigation | Money Laundering, Involving SARs, Fraud, Depository Institutions, BSA Violations, Check Crimes
SARs Identify Money Laundering of Proceeds from the Sale of Marijuana | Narcotics Trafficking, Involving SARs, Depository Institutions, BSA Violations
Bank Secrecy Act Data Leads to Seizure of $18 Million | Money Laundering, Involving SARs, Other Crimes
Suspicious Activity Reports Describe Marijuana Traffickers’ Attempt to Wash, Dry, and Iron “Dirty” Currency | Narcotics Trafficking, Money Laundering, Involving SARs, Other Crimes, Depository Institutions, BSA Violations
SAR Filing Locates Check Kiting Suspect | Involving SARs, Depository Institutions, Check Crimes
Structuring and Tax Charges | Depository Institutions, BSA Violations, Tax Crimes
BSA Records Show Money Received through Mortgage-Related Ponzi Scheme Supported Million-Dollar Gambling Habit | Money Laundering, Fraud, Involving CTRs, Schemes and Scams, Casinos and Card Clubs
Money Remitting Business Laundering Drug Proceeds | Narcotics Trafficking, Involving SARs, Money Services Businesses
Suspicious Activity Reports Document Bank Transactions on Behalf of Drug Trafficker | Narcotics Trafficking, Money Laundering, Involving SARs, Involving CTRs, Depository Institutions, BSA Violations
State Jury Convicts Defendant of Structuring to Avoid BSAReporting Requirements | Money Laundering, Involving SARs, Fraud, Involving CTRs, Depository Institutions, BSA Violations
Bank Secrecy Act Document Analysis Helpful in Fraud Case | Fraud, Depository Institutions, Casinos and Card Clubs, Insurance Companies
Currency Transaction Reports Expose Drug Traffickers Laundering Profits Through Casinos | Narcotics Trafficking, Involving SARs, Involving CTRs, Casinos and Card Clubs
Suspicious Activity Reports Help Unravel Complex Fraudulent Banking Scheme | Involving SARs, Involving CTRs, Schemes and Scams, Depository Institutions
Detailed SAR Narratives Help Uncover Cigarette Smuggling Operation | Involving SARs, Involving CTRs, Depository Institutions, BSA Violations, Tax Crimes
BSA Records Help Dismantle Oxycodone Ring | Narcotics Trafficking, Money Laundering, Involving SARs, Involving CTRs, Depository Institutions, Money Services Businesses
Money Laundering Scheme Transferred Over $12 Million to South American Countries | Narcotics Trafficking, Money Laundering, Involving SARs
SAR Suspect Convicted of Forging U.S. Treasury Checks | Involving SARs, ID Crimes, Depository Institutions