Proactive Suspicious Activity Report Search Leads to Guilty Plea in Tax Fraud Investigation | Involving SARs, Involving CTRs, Depository Institutions, BSA Violations, Tax Crimes
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 Review Team Discovers Doctor Structuring Deposits | Involving SARs, Depository Institutions, BSA Violations
Appeals Court Affirms Conviction in Tax Evasion Case Arising from a SAR | Involving SARs, Depository Institutions, Tax Crimes
Operation Mule Train | Money Laundering, Involving SARs, Involving CTRs, Depository Institutions, Money Services Businesses
SARs Assist in Bankruptcy Bust-out Scheme Investigation | Involving SARs, Fraud, Check Crimes
SAR Leads to Recovery of Funds Derived from Foreign Corruption | Money Laundering, Involving SARs, Fraud, Schemes and Scams, Corruption
Bank Secrecy Act Report Leads to Investigation Involving Immigration Violations, Money Laundering at Food Products Supplier | Money Laundering, Involving SARs, Other Crimes, Depository Institutions
Bank Secrecy Act Records Assist in Mortgage Fraud Investigation Resulting in Guilty Plea | Involving SARs, Fraud, Involving CTRs, Depository Institutions, BSA Violations, Money Services Businesses
BSA Filings Identify Financial Scams Bilking Investors out of $2.2 Million | Broker Dealers, Money Laundering, Involving SARs, ID Crimes, Involving CTRs
Post 9/11 SAR Leads to Guilty Plea in Money Laundering and Illegal Transfer of Funds to Iran Investigation | Broker Dealers, Involving SARs, Other Crimes
SARs Connect Multiple Subjects to Large Scale Investment Scam | Involving SARs, Schemes and Scams, Depository Institutions
Suspicious Activity Reports Identify Transactions Linked to Embezzlement of a Tribal Authority | Money Laundering, Involving SARs, Other Crimes, Fraud, Depository Institutions, BSA Violations, Corruption, Tax Crimes
Proactive SAR Review Leads to Guilty Plea on Conspiracy and Money Laundering Charges | Money Laundering, Involving SARs, Fraud, Tax Crimes
SARs Help Identify Accounts and Additional Nigerian 419 Scams Associated with $32 Million Coal Mine and “Divine Gold” Ponzi Scheme | Involving SARs, Fraud, Schemes and Scams
Bank Secrecy Act Data Is an Integral Component of the FBI’s Geographic Information Mapping Technology | Involving SARs, Terrorism
Reports Filed Under the BSA Critical to Largest Medicaid Fraud Case in the Nation | Money Laundering, Involving SARs, Fraud
SARs Lead to Conviction of Former Investment Firm CEO | Involving SARs, Fraud, Schemes and Scams, Tax Crimes
Local Official Sentenced for Tax Evasion and Structuring | Involving SARs, Depository Institutions, BSA Violations, Corruption, Tax Crimes
BSA Documents Lead to Repatriation & Seizure of over $9 Million Generated by Illegal Internet Pharmacy | Depository Institutions, Involving SARs, Money Services Businesses, Other Crimes
Bank Secrecy Act Records Help Initiate Case and Lead to Networking of Separate Investigations | Involving SARs, Other Crimes, Involving CTRs
SAR Filing Leads to Identification of Elaborate Ponzi Schemes | Money Laundering, Involving SARs, Fraud, Schemes and Scams, Depository Institutions, BSA Violations
Six People Arrested for Allegedly Bilking Millions of Dollars of Goods from Food Bank | Money Laundering, Involving SARs, Involving CTRs, Insurance Companies
SARs Aid Investigators in Case Where an Auto Dealer Laundered Drug Proceeds | Narcotics Trafficking, Money Laundering, Involving SARs, Depository Institutions
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
Biggest Worker’s Compensation Scam in Southern California Totaling More Than $3 Million Dollars | Broker Dealers, Money Laundering, Involving SARs, Fraud, Involving CTRs, Tax Crimes, Insurance Companies