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

SAR Filings Lead to Discovery of Major Investment Scam | Broker Dealers, Money Laundering, Involving SARs, Fraud, BSA Violations
SAR Filings Lead to Investigation Involving Black Market Peso Exchange | Narcotics Trafficking, Informal Value Transfer Systems, Involving SARs, Depository Institutions, BSA Violations
SAR Filings Reveal Methamphetemine Production Ring | Narcotics Trafficking, Money Laundering, Involving SARs, Depository Institutions, BSA Violations
SAR Filings Unveil Fraudulent Securities Dealer | Broker Dealers, Money Laundering, Involving SARs
SAR Identifies Links in ATF Cases | Narcotics Trafficking, Money Laundering, Involving SARs
SAR Identifies Suspects Involved in a Nigerian Advance Fee Scam | Involving SARs, Schemes and Scams, Depository Institutions
SAR Initiates Investigation of Illegal Money Transfers to Iran | Involving SARs, Other Crimes
SAR Leads to Break-Up of Stolen Check Ring | Money Laundering, Involving SARs, Depository Institutions
SAR Leads to Conviction of Iraqi Money Launderer | Money Laundering, Involving SARs, Other Crimes
SAR Leads to Convictions of Members of Computer Chip Theft Ring | Money Laundering, Involving SARs, Depository Institutions, Tax Crimes
SAR Leads to Former Deputy Sheriff Sentenced for Extortion and Title 31 Violations | Involving SARs, Other Crimes, Depository Institutions, BSA Violations
SAR Leads to Guilty Plea of Money Laundering | Money Laundering, Involving SARs, Depository Institutions
Business Owner Sentenced for Tax Evasion | Involving SARs, BSA Violations, Tax Crimes
BSA Records, 314(a) Request Assists Investigation of International Money Laundering Using Stored Value Cards | Money Laundering, Involving SARs, Other Crimes, Fraud, ID Crimes
SAR Suspect Convicted of Forging U.S. Treasury Checks | Involving SARs, ID Crimes, Depository Institutions
SAR Unveils Network of Brazilians Involved in a Stolen Check Scheme | Money Laundering, Involving SARs, Fraud, ID Crimes, Check Crimes
SARs Assist in Bankruptcy Bust-out Scheme Investigation | Involving SARs, Fraud, Check Crimes
SARs Assist in Conviction of Pharmacist | Money Laundering, Involving SARs, Fraud
SARs Assist in Money Laundering Investigation Involving the Insurance Industry | Narcotics Trafficking, Involving SARs, BSA Violations, Insurance Companies
SARs Connect Multiple Subjects to Large Scale Investment Scam | Involving SARs, Schemes and Scams, Depository Institutions
SARs Identify Internal Fraud at Local Bank | Involving SARs, Fraud, Depository Institutions
SARs Identify Money Laundering of Proceeds from the Sale of Marijuana | Narcotics Trafficking, Involving SARs, Depository Institutions, BSA Violations
SARs Lead to Conviction of Former Investment Firm CEO | Involving SARs, Fraud, Schemes and Scams, Tax Crimes
SARs Result in Sentencing of Family Members in Bankruptcy Fraud Case | Broker Dealers, Involving SARs, Fraud, Depository Institutions, BSA Violations
Attorney Sentenced in Fraud Case | Involving SARs, Fraud, BSA Violations