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

BSA Filings Identify Financial Scams Bilking Investors out of $2.2 Million | Broker Dealers, Money Laundering, Involving SARs, ID Crimes, Involving CTRs
SAR Suspect Convicted of Forging U.S. Treasury Checks | Involving SARs, ID Crimes, Depository Institutions
FinCEN Data Proves to be Instrumental in Fraud Case | Narcotics Trafficking, Money Laundering, Involving SARs, Fraud, ID Crimes, Depository Institutions, BSA Violations
State Coordinator's Case Example (Identity Theft) | Involving SARs, ID Crimes, Depository Institutions
SAR Unveils Network of Brazilians Involved in a Stolen Check Scheme | Money Laundering, Involving SARs, Fraud, ID Crimes, Check Crimes
Suspicious Activity Reports Document Transactions of International Fraud Ring | Involving SARs, Fraud, ID Crimes, Depository Institutions, BSA Violations, Money Services Businesses
Identity Thief Receives Nearly 4 Years in Prison | Involving SARs, ID Crimes, 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
SARs Are Catalyst in Investigation of $13.1 Million Tax Fraud Conspiracy | Involving SARs, Fraud, ID Crimes, Depository Institutions, Tax Crimes