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

Three Family Members Plead Guilty to Structuring | Involving SARs, Fraud, Depository Institutions, BSA Violations, Tax Crimes
Jury Convicts Defendant of Structuring, No Illicit Origin ofFunds Alleged | Involving CTRs, Depository Institutions, BSA Violations
Defendant Pleads Guilty in Structuring Case | Depository Institutions, Casinos and Card Clubs, BSA Violations
BSA Records Identify Accounts and Transactions Related to an Illegal Gambling Enterprise | Money Laundering, Other Crimes, Depository Institutions, BSA Violations
Drug Trafficker Pleads Guilty to Structuring and Money Laundering Charges | Narcotics Trafficking, Money Laundering, Depository Institutions, BSA Violations
Cocaine Dealer Sentenced to Life in Prison for Distribution, Structuring, and Money Laundering | Narcotics Trafficking, Money Laundering, Depository Institutions, BSA Violations
Conviction for Making False Statements | Other Crimes, Fraud, Depository Institutions
Structuring and Tax Charges | Depository Institutions, BSA Violations, Tax Crimes
Illicit Wire Activity Destined for Sanctioned Country | Informal Value Transfer Systems, Other Crimes, Depository Institutions, Money Services Businesses
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
Suspicious Activity Report Leads to Arrest and Conviction of U.S. Government Employee for Embezzlement | Money Laundering, Involving SARs, Involving CTRs, Depository Institutions, Casinos and Card Clubs, BSA Violations, Corruption
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
Corrupt Official Convicted on Numerous Charges Including Structuring | Involving SARs, Other Crimes, Fraud, Depository Institutions, BSA Violations, Corruption, Tax Crimes
Credit Union’s Suspicious Activity Reports Lead to Arrest of Corrupt Utilities Employees | Involving SARs, Schemes and Scams, Depository Institutions, BSA Violations, Corruption
Local Official Sentenced for Tax Evasion and Structuring | Involving SARs, Depository Institutions, BSA Violations, Corruption, Tax Crimes
SARs Lead to Structuring and Tax Convictions | Involving SARs, Involving CTRs, Schemes and Scams, Depository Institutions, BSA Violations, Tax Crimes
SARs Aid Investigators in Case Where an Auto Dealer Laundered Drug Proceeds | Narcotics Trafficking, Money Laundering, Involving SARs, Depository Institutions
FinCEN Data Proves to be Instrumental in Fraud Case | Narcotics Trafficking, Money Laundering, Involving SARs, Fraud, ID Crimes, Depository Institutions, BSA Violations
SAR Initiates Case that Leads to Guilty Pleas for Hiring Illegal Aliens | Involving SARs, Other Crimes, Depository Institutions, BSA Violations
Proactive Review of SARs Leads to Long Prison Sentences for Drug Traffickers | Narcotics Trafficking, Money Laundering, Involving SARs, Involving CTRs, Depository Institutions, BSA Violations, Money Services Businesses
SAR Referral Leads to the Discovery of a $100 Million Mortgage Fraud and Foreclosure Rescue Scheme | Involving SARs, Fraud, Schemes and Scams, Depository Institutions, Tax Crimes
SARs Identify Huge Check-Kiting Scheme by Auto Dealer | Money Laundering, Involving SARs, Fraud, Schemes and Scams, Depository Institutions, Check Crimes
SARs and 314(b) Call Lead to Guilty Plea in Ponzi Scheme | Involving SARs, Fraud, Involving CTRs, Schemes and Scams, Depository Institutions, Casinos and Card Clubs, Check Crimes
Bank Secrecy Act Document Analysis Helpful in Fraud Case | Fraud, Depository Institutions, Casinos and Card Clubs, Insurance Companies
Proactive SAR Review Leads to Guilty Pleas in Structuring, Bank Fraud Case | Involving SARs, Fraud, Depository Institutions, BSA Violations