Check Kite Nets Two | Involving SARs, Fraud, Check Crimes
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
SARs Help Uncover Bid-Rigging Scandal | Money Laundering, Involving SARs, Other Crimes, Fraud, Schemes and Scams, BSA Violations, Corruption
Attorney General’s Office Case Example (Mortgage Fraud) | Involving SARs, Fraud
Metal Traders Charged in International Bank Fraud Scheme | Involving SARs, Fraud
SARs Identify Huge Check-Kiting Scheme by Auto Dealer | Money Laundering, Involving SARs, Fraud, Schemes and Scams, Depository Institutions, Check Crimes
Suspicious Activity Report Credited with Revealing Bank Fraud Scheme and Unraveling Auto Insurance Fraud Ring that Nets Principal Defendant Nearly $1.3 Million and a Nine-Year Prison Term | Involving SARs, Fraud, Depository Institutions, Check Crimes
Reports Filed Under the BSA Critical to Largest Medicaid Fraud Case in the Nation | Money Laundering, Involving SARs, Fraud
Proactive SAR Review Leads to Guilty Pleas in Structuring, Bank Fraud Case | Involving SARs, Fraud, Depository Institutions, BSA Violations
Suspicious Activity Reports Detail Transactions in Mortgage Fraud Scheme | Involving SARs, Fraud, Depository Institutions
SAR Filing Uncovers Investment Fraud Scheme | Involving SARs, Fraud, Schemes and Scams
Bank Secrecy Act Records Help Launch Investigation on Convicted Felon Not Complying with Restitution Order | Fraud, Involving CTRs, Casinos and Card Clubs
SAR Unveils Network of Brazilians Involved in a Stolen Check Scheme | Money Laundering, Involving SARs, Fraud, ID Crimes, Check Crimes
Proactive SAR Review Uncovers $15 Million Securities Conversion Scheme | Broker Dealers, Involving SARs, Fraud, Depository Institutions
SARs Identify Internal Fraud at Local Bank | Involving SARs, Fraud, Depository Institutions
SARs Lead to Recovery of Funds Derived from Medical Fraud | Involving SARs, Fraud, Depository Institutions
SARs Result in Sentencing of Family Members in Bankruptcy Fraud Case | Broker Dealers, Involving SARs, Fraud, Depository Institutions, BSA Violations
Securities Dealer Provides Details of High Yield Investment Program Scheme | Broker Dealers, Money Laundering, Involving SARs, Fraud
Suspicious Activity Report Leads to Conviction of Chief Executive | Involving SARs, Fraud, Depository Institutions
Bogus Life Insurance Investment Vehicles Identified through SAR Filing | Involving SARs, Fraud, Schemes and Scams, Depository Institutions, Insurance Companies
Suspicious Activity Reports Detail Transactions in Mortgage Fraud Scheme | Involving SARs, Fraud, Depository Institutions
SARs Lead to Serial Mortgage Fraud Offender | Involving SARs, Fraud, Depository Institutions, BSA Violations, Tax Crimes
Attorney Sentenced in Fraud Case | Involving SARs, Fraud, BSA Violations
Three Individuals Convicted in Phantom Bank Scheme | Money Laundering, Involving SARs, Fraud
State Jury Convicts Defendant of Structuring to Avoid BSAReporting Requirements | Money Laundering, Involving SARs, Fraud, Involving CTRs, Depository Institutions, BSA Violations
Bank Secrecy Act Reports Instrumental in Investigation and Conviction of Attorney and Three Accomplices in Multi-Million Dollar Real Estate Fraud | Involving SARs, Fraud, Involving CTRs, Casinos and Card Clubs, Money Services Businesses