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 Leads to Break-Up of Stolen Check Ring | Money Laundering, Involving SARs, Depository Institutions
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
SAR Reveals Bank Fraud and Money Laundering Violations by Rv Dealer | Money Laundering, Involving SARs, Fraud, Depository Institutions
SAR Reveals Major Sports Betting Ring | Involving SARs, Other Crimes, Depository Institutions
Purported Charity Attempts to Evade Reporting Requirements | Involving SARs, Fraud, Depository Institutions
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
Illegal Casa De Cambio Launders More Than $5 Million | Money Laundering, Involving SARs, Involving CTRs, Depository Institutions, Money Services Businesses
SARs Result in Sentencing of Family Members in Bankruptcy Fraud Case | Broker Dealers, Involving SARs, Fraud, 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
Suspicious Activity Report Initiates Bank Failure Investigation | Depository Institutions
Suspicious Activity Report Initiates Investigations into Fraud, High-Yield Investment Schemes; Egmont Exchanges Lead to Foreign Accounts and Asset Seizures | Involving SARs, Fraud, Involving CTRs, Schemes and Scams, Depository Institutions, Casinos and Card Clubs, Tax Crimes
Suspicious Activity Report Initiates Material Support of Terrorism Investigation | Depository Institutions, Money Services Businesses
Ex-Bank President Guilty in Loan Fraud After Investigation Initiated by Suspicious Activity Report Filing | Depository Institutions
Suspicious Activity Report Leads to Forfeiture of Currency | Narcotics Trafficking, Involving SARs, Depository Institutions, BSA Violations
Suspicious Activity Report Leads to Guilty Plea in Structuring Case | Depository Institutions, BSA Violations
Suspicious Activity Report Leads to Structuring Conviction and Links to Drug Investigation | Narcotics Trafficking, Involving SARs, Depository Institutions, BSA Violations
Suspicious Activity Report Leads to the Investigation and Conviction of Elected Official | Involving SARs, Fraud, Depository Institutions, BSA Violations, Money Services Businesses, Check Crimes
Suspicious Activity Reports Aid Conviction of Drug Dealers | Narcotics Trafficking, Money Laundering, Involving SARs, Involving CTRs, Depository Institutions
Suspicious Activity Reports Detail Transactions in Mortgage Fraud Scheme | Involving SARs, Fraud, Depository Institutions
Suspicious Activity Reports Document Transactions by Defendant With Ties to Organized Crime Group, Possible Terrorism Financing | Involving SARs, Fraud, ID Crimes, Depository Institutions, Terrorism, Check Crimes
Suspicious Activity Reports Help Unravel Complex Fraudulent Banking Scheme | Involving SARs, Involving CTRs, Schemes and Scams, Depository Institutions
Bank Manager Steals Hundreds of Thousands of Dollars: Scam Even Targets Sister | Depository Institutions