Business Accused of Structuring | BSA Violations, Money Services Businesses
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
Cocaine Dealer Sentenced to Life in Prison for Distribution, Structuring, and Money Laundering | Narcotics Trafficking, Money Laundering, Depository Institutions, BSA Violations
Case for Mortgage Fraud Involving Straw Buyers Supported by SARs | Involving SARs, Fraud, Involving CTRs, Depository Institutions, BSA Violations, Money Services Businesses, Check Crimes
Edible Delicacies Land Man in Prison | BSA Violations
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
SAR Leads to Guilty Plea in Case against Doctor | Involving SARs, Fraud, Involving CTRs, Depository Institutions, BSA Violations, Tax Crimes, Insurance Companies
SAR Filing Leads to 125-Count Indictment in $2.7 Million Embezzlement Case | Money Laundering, Involving SARs, Depository Institutions, BSA Violations, 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
State Jury Convicts Defendant of Structuring to Avoid BSAReporting Requirements | Money Laundering, Involving SARs, Fraud, Involving CTRs, Depository Institutions, BSA Violations
SAR Filings Lead to Discovery of Major Investment Scam | Broker Dealers, Money Laundering, Involving SARs, Fraud, BSA Violations
SARs Lead to Structuring and Tax Convictions | Involving SARs, Involving CTRs, Schemes and Scams, Depository Institutions, BSA Violations, Tax Crimes
Structuring Charges Help Elderly Victim Recover Stolen Funds | Depository Institutions, BSA Violations
SAR Leads to Former Deputy Sheriff Sentenced for Extortion and Title 31 Violations | 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
Local Municipality Case Example (Illegal Exports) | Money Laundering, Involving SARs, Depository Institutions, BSA Violations
SARs Identify Money Laundering of Proceeds from the Sale of Marijuana | 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
Detailed SAR Narratives Help Uncover Cigarette Smuggling Operation | Involving SARs, Involving CTRs, Depository Institutions, BSA Violations, Tax Crimes
Suspect Sentenced to Five Years in Prison and Ordered to Pay $1 Million in Restitution | Involving SARs, BSA Violations, Tax Crimes
SARs Help Dismantle Interstate Cigarette Smuggling Operation | Money Laundering, Involving SARs, Other Crimes, Involving CTRs, Depository Institutions, Terrorism, BSA Violations
Suspicious Activity Report Leads to Guilty Plea in Structuring Case | Depository Institutions, BSA Violations
SARs Help Uncover Scheme to Hide Payments from Drug Traffickers to Buy Vehicles | Narcotics Trafficking, Involving SARs, Schemes and Scams, Depository Institutions, BSA Violations
Suspicious Activity Reports Identify Money Laundering Activities | Informal Value Transfer Systems, Money Laundering, Involving SARs, BSA Violations
Proactive Suspicious Activity Report Search Leads to Guilty Plea in Tax Fraud Investigation | Involving SARs, Involving CTRs, Depository Institutions, BSA Violations, Tax Crimes
Travel Agent Convicted | Money Laundering, Involving SARs, Involving CTRs, BSA Violations