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
FinCEN Data Proves to be Instrumental in Fraud Case | Narcotics Trafficking, Money Laundering, Involving SARs, Fraud, ID Crimes, Depository Institutions, BSA Violations
Judge Rules Defendant Guilty of Structuring; No Connection to Criminal Activity Alleged | Depository Institutions, BSA Violations
SAR Reports Structuring by Unlicensed Msb | BSA Violations, Money Services Businesses
Bank Secrecy Act Records Detail Transactions Related to Illicit Smoke Shop Sales | Involving SARs, Other Crimes, BSA Violations, Tax Crimes
Local Municipality Case Example (SARs/CTRs Lead to Asset Forfeiture) | Narcotics Trafficking, Involving SARs, Involving CTRs, Depository Institutions, BSA Violations
SARs Result in Sentencing of Family Members in Bankruptcy Fraud Case | Broker Dealers, Involving SARs, Fraud, Depository Institutions, BSA Violations
SARs Reveal Multi-Million Dollar Illicit Business | Money Laundering, Involving SARs, Depository Institutions, BSA Violations
Bank Secrecy Act Records Assist in Mortgage Fraud Investigation Resulting in Guilty Plea | Involving SARs, Fraud, Involving CTRs, Depository Institutions, BSA Violations, Money Services Businesses
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
SARs Help Investigators Stop Fraudsters in Elder Financial Exploitation Case | Involving SARs, Fraud, BSA Violations, Tax Crimes
Suspicious Activity Report Leads to Structuring Conviction and Links to Drug Investigation | Narcotics Trafficking, Involving SARs, Depository Institutions, BSA Violations
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
Suspicious Activity Reports “Extremely Helpful” in Structuring Conviction Related to International Lottery Scheme | Involving SARs, Schemes and Scams, 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
Jury Convicts Defendant of Structuring, No Illicit Origin ofFunds Alleged | Involving CTRs, Depository Institutions, BSA Violations
SAR Review Team Identifies Gift Shop Operating as an Unregistered Money Services Business | Involving SARs, Depository Institutions, BSA Violations, Money Services Businesses
Bank Secrecy Act Records Link Gambling Ring to Structuring at Casinos | Involving SARs, Other Crimes, Involving CTRs, Casinos and Card Clubs, BSA Violations
Drug Trafficker Pleads Guilty to Structuring and Money Laundering Charges | Narcotics Trafficking, Money Laundering, Depository Institutions, BSA Violations
Suspicious Activity Reports Describe Marijuana Traffickers’ Attempt to Wash, Dry, and Iron “Dirty” Currency | Narcotics Trafficking, Money Laundering, Involving SARs, Other Crimes, Depository Institutions, BSA Violations
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
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
SARs Lead to Serial Mortgage Fraud Offender | Involving SARs, Fraud, Depository Institutions, BSA Violations, Tax Crimes
Proactive SAR Query Leads to Structuring Conviction | Involving CTRs, BSA Violations
Corrupt Official Convicted on Numerous Charges Including Structuring | Involving SARs, Other Crimes, Fraud, Depository Institutions, BSA Violations, Corruption, Tax Crimes