SAR Filing Trips Up Card Thief | 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
Three Family Members Plead Guilty to Structuring | Involving SARs, Fraud, Depository Institutions, BSA Violations, Tax Crimes
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
Local Municipality Case Example (Illegal Exports) | Money Laundering, Involving SARs, Depository Institutions, BSA Violations
SAR Filings Reveal Methamphetemine Production Ring | Narcotics Trafficking, Money Laundering, Involving SARs, Depository Institutions, BSA Violations
BSA Records Identify Accounts and Transactions Related to an Illegal Gambling Enterprise | Money Laundering, Other Crimes, Depository Institutions, BSA Violations
Bank Secrecy Act Records Track Money Laundering Methods of Drug Gang | Narcotics Trafficking, Money Laundering, Involving CTRs, Depository Institutions, Casinos and Card Clubs
State Coordinator’s Case Example (Elder Abuse-Financial) | Involving CTRs, Depository Institutions
SAR Leads to Convictions of Members of Computer Chip Theft Ring | Money Laundering, Involving SARs, Depository Institutions, Tax Crimes
Conviction for Making False Statements | Other Crimes, Fraud, Depository Institutions
Bank Secrecy Act Report Leads to Investigation Involving Immigration Violations, Money Laundering at Food Products Supplier | Money Laundering, Involving SARs, Other Crimes, Depository Institutions
Suspicious Activity Report Describes in Great Detail Bank Embezzlement Scheme, Leads to Guilty Plea | Money Laundering, Involving SARs, Depository Institutions
SAR Reveals Bank Fraud and Money Laundering Violations by Rv Dealer | Money Laundering, Involving SARs, Fraud, Depository Institutions
Proactive SAR Review Leads to the Arrest of Army Officer and Recovery of Iraqi War Funds | Money Laundering, Involving SARs, Depository Institutions, BSA Violations, Corruption
Restaurant Owner Pleads Guilty to a Charge of Structuring Bank Deposits | Narcotics Trafficking, Involving SARs, Depository Institutions, BSA Violations, Tax Crimes
Suspicious Activity Reports Document Bank Transactions on Behalf of Drug Trafficker | Narcotics Trafficking, Money Laundering, Involving SARs, Involving CTRs, Depository Institutions, BSA Violations
Appeals Court Affirms Conviction in Tax Evasion Case Arising from a SAR | Involving SARs, Depository Institutions, Tax Crimes
SARs Connect Multiple Subjects to Large Scale Investment Scam | Involving SARs, Schemes and Scams, Depository Institutions
Corrupt Official Convicted on Numerous Charges Including Structuring | Involving SARs, Other Crimes, Fraud, Depository Institutions, BSA Violations, Corruption, Tax Crimes
BSA Records “Critical” in Conviction of Money Launderer in Organized Retail Theft Case | Money Laundering, Involving SARs, Other Crimes, Depository Institutions, BSA Violations, Money Services Businesses
SARs Lead to Conviction of Major Cocaine Trafficker | Narcotics Trafficking, Money Laundering, Involving SARs, Fraud, Involving CTRs, Depository Institutions, Tax Crimes
SARs Lead to Structuring and Tax Convictions | Involving SARs, Involving CTRs, Schemes and Scams, Depository Institutions, BSA Violations, Tax Crimes
Guilty Pleas in International Hedge Fund Fraud Case Initiated from SARs | Broker Dealers, Involving SARs, Fraud, Schemes and Scams, Depository Institutions
Identity Thief Receives Nearly 4 Years in Prison | Involving SARs, ID Crimes, Depository Institutions