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

Insurance Executive Sentenced in Embezzlement Scheme | Involving SARs, Schemes and Scams, Insurance Companies
Business Owner Sentenced for Tax Evasion | Involving SARs, BSA Violations, Tax Crimes
SAR Leads to Guilty Plea in Case against Doctor | Involving SARs, Fraud, Involving CTRs, Depository Institutions, BSA Violations, Tax Crimes, Insurance Companies
SAR Review Team Identifies Gift Shop Operating as an Unregistered Money Services Business | Involving SARs, Depository Institutions, BSA Violations, Money Services Businesses
SARs Help Dismantle Interstate Cigarette Smuggling Operation | Money Laundering, Involving SARs, Other Crimes, Involving CTRs, Depository Institutions, Terrorism, BSA Violations
Local Municipality Case Example (SARs/CTRs Lead to Asset Forfeiture) | Narcotics Trafficking, Involving SARs, Involving CTRs, Depository Institutions, BSA Violations
SAR Leads to Conviction of Iraqi Money Launderer | Money Laundering, Involving SARs, Other Crimes
Suspicious Activity Reports Detail Transactions in Mortgage Fraud Scheme | Involving SARs, Fraud, Depository Institutions
SAR Reports Structuring by Unlicensed Msb | BSA Violations, Money Services Businesses
Bank Secrecy Act Records, Tellers' Testimony Lead to Convictions for Medicare Fraud, Structuring, and Money Laundering | Money Laundering, Involving SARs, Fraud, Involving CTRs, Depository Institutions, BSA Violations
Man Pleads Guilty to Laundering $5.9 Million in Drug Proceeds | Narcotics Trafficking, Involving SARs, Involving CTRs, Depository Institutions
Credit Union’s Suspicious Activity Reports Lead to Arrest of Corrupt Utilities Employees | Involving SARs, Schemes and Scams, Depository Institutions, BSA Violations, Corruption
Store Owners Plead Guilty to Structuring and Food Stamp Fraud | Involving SARs, Other Crimes, Fraud, BSA Violations
SAR Filing Leads to Identification of Elaborate Ponzi Schemes | Money Laundering, Involving SARs, Fraud, Schemes and Scams, Depository Institutions, BSA Violations
Case for Mortgage Fraud Involving Straw Buyers Supported by SARs | Involving SARs, Fraud, Involving CTRs, Depository Institutions, BSA Violations, Money Services Businesses, Check Crimes
Major Credit Card Thief Convicted | Money Laundering, Involving SARs, Fraud, Involving CTRs
Lengthy Sentence for Owning a Marijuana Farm | Narcotics Trafficking, Involving SARs
Restaurant Owner Pleads Guilty to a Charge of Structuring Bank Deposits | Narcotics Trafficking, Involving SARs, Depository Institutions, BSA Violations, Tax Crimes
BSA Data Instrumental in Drug Cases | Narcotics Trafficking, Involving SARs