BSA Records Help Investigators Break Multi-Million Dollar Racketeering Scheme in the Trash Hauling Industry | Involving SARs, Other Crimes, Involving CTRs
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
Proactive Bank Secrecy Act Search Leads to Arrest in Ponzi Scheme | Involving SARs, Involving CTRs, Schemes and Scams, Depository Institutions
SARs Identify Internal Fraud at Local Bank | Involving SARs, Fraud, Depository Institutions
Corrupt Official Convicted on Numerous Charges Including Structuring | Involving SARs, Other Crimes, Fraud, Depository Institutions, BSA Violations, Corruption, Tax Crimes
Proactive SAR Review Uncovers $15 Million Securities Conversion Scheme | Broker Dealers, Involving SARs, Fraud, Depository Institutions
Suspicious Activity Report Credited with Revealing Bank Fraud Scheme and Unraveling Auto Insurance Fraud Ring that Nets Principal Defendant Nearly $1.3 Million and a Nine-Year Prison Term | Involving SARs, Fraud, Depository Institutions, Check Crimes
Bank Secrecy Act Data Leads to Seizure of $18 Million | Money Laundering, Involving SARs, Other Crimes
Retail Store Owner Sentenced for Unlicensed Hawala Operation | Informal Value Transfer Systems, Involving SARs, Fraud, Money Services Businesses, Tax Crimes
SARs Lead to Conviction of Major Cocaine Trafficker | Narcotics Trafficking, Money Laundering, Involving SARs, Fraud, Involving CTRs, Depository Institutions, Tax Crimes
SARs Help Uncover Bid-Rigging Scandal | Money Laundering, Involving SARs, Other Crimes, Fraud, Schemes and Scams, BSA Violations, Corruption
SAR Review Team Identifies Gift Shop Operating as an Unregistered Money Services Business | Involving SARs, Depository Institutions, BSA Violations, Money Services Businesses
One Hundred SARs Help Outline Size and Scope of Fraudulent Mortgage Elimination Scheme | Involving SARs, Fraud, Depository Institutions
Bank Secrecy Act Records Link Gambling Ring to Structuring at Casinos | Involving SARs, Other Crimes, Involving CTRs, Casinos and Card Clubs, BSA Violations
SAR Filing Locates Check Kiting Suspect | Involving SARs, Depository Institutions, Check Crimes
State & Federal Agencies Seize $8.9 Million—Brought Together by Gateway Alert Match Program | Involving CTRs, Involving SARs, Money Laundering
FinCEN Data Proves to be Instrumental in Fraud Case | Narcotics Trafficking, Money Laundering, Involving SARs, Fraud, ID Crimes, Depository Institutions, BSA Violations
SARs Lead to Recovery of Funds Derived from Medical Fraud | Involving SARs, Fraud, Depository Institutions
Business Owner Sentenced for Tax Evasion | Involving SARs, BSA Violations, Tax Crimes
SAR Filing Uncovers Investment Fraud Scheme | Involving SARs, Fraud, Schemes and Scams
Suspect Sentenced to Five Years in Prison and Ordered to Pay $1 Million in Restitution | Involving SARs, BSA Violations, Tax Crimes
SAR Referral Leads to the Discovery of a $100 Million Mortgage Fraud and Foreclosure Rescue Scheme | Involving SARs, Fraud, Schemes and Scams, Depository Institutions, Tax Crimes
SARs Are Catalyst in Investigation of $13.1 Million Tax Fraud Conspiracy | Involving SARs, Fraud, ID Crimes, Depository Institutions, Tax Crimes
Check Kite Nets Two | Involving SARs, Fraud, Check Crimes
SAR Filings Lead to Discovery of Major Investment Scam | Broker Dealers, Money Laundering, Involving SARs, Fraud, BSA Violations
Suspicious Activity Report Initiates Investigations into Fraud, High-Yield Investment Schemes; Egmont Exchanges Lead to Foreign Accounts and Asset Seizures | Involving SARs, Fraud, Involving CTRs, Schemes and Scams, Depository Institutions, Casinos and Card Clubs, Tax Crimes