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

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 Identify Money Laundering Activities | Informal Value Transfer Systems, Money Laundering, Involving SARs, BSA Violations
Suspicious Activity Reports “Extremely Helpful” in Structuring Conviction Related to International Lottery Scheme | Involving SARs, Schemes and Scams, Depository Institutions, BSA Violations
Three Family Members Plead Guilty to Structuring | Involving SARs, Fraud, Depository Institutions, BSA Violations, Tax Crimes
Travel Agent Convicted | Money Laundering, Involving SARs, Involving CTRs, BSA Violations
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
Structuring and Tax Charges | Depository Institutions, BSA Violations, Tax 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
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 Help Uncover Bid-Rigging Scandal | Money Laundering, Involving SARs, Other Crimes, Fraud, Schemes and Scams, BSA Violations, Corruption
SARs Lead to Structuring and Tax Convictions | Involving SARs, Involving CTRs, Schemes and Scams, Depository Institutions, BSA Violations, Tax Crimes
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
Bank Secrecy Act Records Detail Transactions Related to Illicit Smoke Shop Sales | Involving SARs, Other Crimes, BSA Violations, Tax Crimes
FinCEN Information Helps Jury Convict Cocaine Trafficker | Narcotics Trafficking, Involving SARs, Involving CTRs, Casinos and Card Clubs, BSA Violations
Proactive SAR Review Leads to Guilty Pleas in Structuring, Bank Fraud Case | Involving SARs, Fraud, Depository Institutions, BSA Violations