SAR Filings Lead to Investigation Involving Black Market Peso Exchange | Narcotics Trafficking, Informal Value Transfer Systems, Involving SARs, Depository Institutions, BSA Violations
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
Defendant Pleads Guilty in Structuring Case | Depository Institutions, Casinos and Card Clubs, BSA Violations
Bank Secrecy Act Reports Cast Doubts on Alleged Victim’s Story, Lead to Investigation and Indictment for Money Laundering and Operating an Illegal Online Pharmacy | Narcotics Trafficking, Money Laundering, Involving SARs, Other Crimes, Involving CTRs, Depository Institutions, Casinos and Card Clubs, Money Services Businesses
Local Municipality Case Example (SARs/CTRs Lead to Asset Forfeiture) | Narcotics Trafficking, Involving SARs, Involving CTRs, Depository Institutions, BSA Violations
SAR Leads to Break-Up of Stolen Check Ring | Money Laundering, Involving SARs, Depository Institutions
Cocaine Dealer Sentenced to Life in Prison for Distribution, Structuring, and Money Laundering | Narcotics Trafficking, Money Laundering, Depository Institutions, BSA Violations
Suspicious Activity Reports Document Transactions of International Fraud Ring | Involving SARs, Fraud, ID Crimes, Depository Institutions, BSA Violations, Money Services Businesses
Detailed SAR Narratives Help Uncover Cigarette Smuggling Operation | Involving SARs, Involving CTRs, Depository Institutions, BSA Violations, Tax Crimes
SAR Leads to Guilty Plea of Money Laundering | Money Laundering, Involving SARs, Depository Institutions
Illicit Wire Activity Destined for Sanctioned Country | Informal Value Transfer Systems, Other Crimes, Depository Institutions, Money Services Businesses
SAR Review Team Identifies Gift Shop Operating as an Unregistered Money Services Business | Involving SARs, Depository Institutions, BSA Violations, Money Services Businesses
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
SAR Suspect Convicted of Forging U.S. Treasury Checks | Involving SARs, ID Crimes, 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
SARs Lead to Recovery of Funds Derived from Medical Fraud | Involving SARs, Fraud, Depository Institutions
Suspicious Activity Reports Detail Transactions in Mortgage Fraud Scheme | Involving SARs, Fraud, Depository Institutions
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
Local Official Sentenced for Tax Evasion and Structuring | Involving SARs, Depository Institutions, BSA Violations, Corruption, Tax Crimes
SARs Are Catalyst in Investigation of $13.1 Million Tax Fraud Conspiracy | Involving SARs, Fraud, ID Crimes, Depository Institutions, Tax Crimes
Former Banker Sentenced for Avoiding Irs Reporting | Depository Institutions, BSA Violations
Suspicious Activity Report Details Illicit Check Cashing Activity, Provides Blueprint for Investigation and Indictment | Involving SARs, Involving CTRs, Depository Institutions, BSA Violations, Money Services Businesses, Check Crimes
FinCEN Data Proves to be Instrumental in Fraud Case | Narcotics Trafficking, Money Laundering, Involving SARs, Fraud, ID Crimes, Depository Institutions, BSA Violations
Bank SARs Lead to Discovery of Predatory Certificate of Deposit Fraud Scheme | Involving SARs, Fraud, Schemes and Scams, Depository Institutions, Check Crimes
Individual Sentenced for Operating an Unlicensed Money Transmitting Business & Bankruptcy Fraud | Depository Institutions, Involving CTRs, Money Services Businesses