Identity Thief Receives Nearly 4 Years in Prison | Involving SARs, ID Crimes, Depository Institutions
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
Suspicious Activity Report Initiates Bank Failure Investigation | Depository Institutions
SAR Initiates Case that Leads to Guilty Pleas for Hiring Illegal Aliens | Involving SARs, Other Crimes, Depository Institutions, BSA Violations
Bogus Life Insurance Investment Vehicles Identified through SAR Filing | Involving SARs, Fraud, Schemes and Scams, Depository Institutions, Insurance Companies
Insider Fraud Contributes to Bank Failure | Involving SARs, Depository Institutions, Check Crimes
Suspicious Activity Report Leads to Conviction of Chief Executive | Involving SARs, Fraud, Depository Institutions
SARs Identify Huge Check-Kiting Scheme by Auto Dealer | Money Laundering, Involving SARs, Fraud, Schemes and Scams, Depository Institutions, Check Crimes
SARs Lead to Serial Mortgage Fraud Offender | Involving SARs, Fraud, Depository Institutions, BSA Violations, Tax Crimes
Operation Mule Train | Money Laundering, Involving SARs, Involving CTRs, Depository Institutions, Money Services Businesses
Suspicious Activity Report Leads to Structuring Conviction and Links to Drug Investigation | Narcotics Trafficking, Involving SARs, Depository Institutions, BSA Violations
Proactive SAR Review Leads to Guilty Pleas in Structuring, Bank Fraud Case | Involving SARs, Fraud, Depository Institutions, BSA Violations
Mortgage Broker Pleads Guilty to Structuring Charges | Narcotics Trafficking, Involving SARs, Fraud, Depository Institutions, BSA Violations, Money Services Businesses, Check Crimes
SAR Filing Leads to 125-Count Indictment in $2.7 Million Embezzlement Case | Money Laundering, Involving SARs, Depository Institutions, BSA Violations, Tax Crimes
Suspicious Activity Reports Detail Transactions in Mortgage Fraud Scheme | Involving SARs, Fraud, Depository Institutions
SAR Helps in Investigation of Doctor Prescribing Thousands of Pain Relief Pills | Narcotics Trafficking, Involving SARs, Depository Institutions, BSA Violations, Tax Crimes
Structuring Charges Help Elderly Victim Recover Stolen Funds | Depository Institutions, BSA Violations
SAR Filing Locates Check Kiting Suspect | Involving SARs, Depository Institutions, Check Crimes
Suspicious Activity Reports Useful in Round-Tripping Investigation | Depository Institutions
SARs Help Bust $1 Million Drug Ring Led by Significantly Older Student | Narcotics Trafficking, Money Laundering, Involving SARs, Depository Institutions, BSA Violations
State Coordinator’s Case Example (Identity Theft) | Involving SARs, ID Crimes, Depository Institutions
SAR Filing Unveils Customs Fraud | Money Laundering, Involving SARs, Depository Institutions
Jury Convicts Defendant of Structuring, No Illicit Origin ofFunds Alleged | Involving CTRs, Depository Institutions, BSA Violations
Proactive Suspicious Activity Report Review Leads to Guilty Plea for Money Remitter Structuring Transactions | Involving SARs, Depository Institutions, BSA Violations, Money Services Businesses
Local Municipality Case Example (Narcotics Trafficking, Money Laundering, and Mortgage Fraud) | Narcotics Trafficking, Money Laundering, Fraud, Involving CTRs, Depository Institutions
SAR Identifies Suspects Involved in a Nigerian Advance Fee Scam | Involving SARs, Schemes and Scams, Depository Institutions