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

Store Owners Plead Guilty to Structuring and Food Stamp Fraud | Involving SARs, Other Crimes, Fraud, BSA Violations
Suspicious Activity Report Initiates Investigations into Fraud, High-Yield Investment Schemes; Egmont Exchanges Lead to Foreign Accounts and Asset Seizures | Involving SARs, Fraud, Involving CTRs, Schemes and Scams, Depository Institutions, Casinos and Card Clubs, Tax Crimes
Suspicious Activity Report Leads to Conviction of Chief Executive | Involving SARs, Fraud, Depository Institutions
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 Assist Telemarketing Fraud Investigation | Involving SARs, Other Crimes, Fraud
Suspicious Activity Reports Detail Transactions in Mortgage Fraud Scheme | Involving SARs, Fraud, Depository Institutions
Suspicious Activity Reports Document Transactions by Defendant With Ties to Organized Crime Group, Possible Terrorism Financing | Involving SARs, Fraud, ID Crimes, Depository Institutions, Terrorism, Check Crimes
Three Family Members Plead Guilty to Structuring | Involving SARs, Fraud, Depository Institutions, BSA Violations, Tax Crimes
Three Individuals Convicted in Phantom Bank Scheme | Money Laundering, Involving SARs, Fraud
Conviction for Making False Statements | Other Crimes, Fraud, Depository Institutions
SAR Leads to Recovery of Funds Derived from Foreign Corruption | Money Laundering, Involving SARs, Fraud, Schemes and Scams, 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
SARs Help Uncover Bid-Rigging Scandal | Money Laundering, Involving SARs, Other Crimes, Fraud, Schemes and Scams, BSA Violations, Corruption
FinCEN Data Proves to be Instrumental in Fraud Case | Narcotics Trafficking, Money Laundering, Involving SARs, Fraud, ID Crimes, Depository Institutions, BSA Violations
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
SARs Help Investigators Stop Fraudsters in Elder Financial Exploitation Case | Involving SARs, Fraud, BSA Violations, Tax Crimes
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
Bank Secrecy Act Records Help Launch Investigation on Convicted Felon Not Complying with Restitution Order | Fraud, Involving CTRs, Casinos and Card Clubs
Suspicious Activity Reports Document Transactions of International Fraud Ring | Involving SARs, Fraud, ID Crimes, Depository Institutions, BSA Violations, Money Services Businesses
BSA Records Show Money Received through Mortgage-Related Ponzi Scheme Supported Million-Dollar Gambling Habit | Money Laundering, Fraud, Involving CTRs, Schemes and Scams, Casinos and Card Clubs