BSA Filings Identify Financial Scams Bilking Investors out of $2.2 Million | Broker Dealers, Money Laundering, Involving SARs, ID Crimes, Involving CTRs
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
Suspicious Activity Reports Aid Conviction of Drug Dealers | Narcotics Trafficking, Money Laundering, Involving SARs, Involving CTRs, Depository Institutions
State Jury Convicts Defendant of Structuring to Avoid BSAReporting Requirements | Money Laundering, Involving SARs, Fraud, Involving CTRs, Depository Institutions, BSA Violations
Biggest Worker’s Compensation Scam in Southern California Totaling More Than $3 Million Dollars | Broker Dealers, Money Laundering, Involving SARs, Fraud, Involving CTRs, Tax Crimes, Insurance Companies
Travel Agent Convicted | Money Laundering, Involving SARs, Involving CTRs, BSA Violations
Local Municipality Case Example (Illegal Exports) | Money Laundering, Involving SARs, Depository Institutions, BSA Violations
Credit Union Files Suspicious Activity Report and Helps Launch Bank Fraud, International Payment Transfers Investigation | Money Laundering, Involving SARs, Fraud, Depository Institutions, BSA Violations, Check Crimes
Cocaine Dealer Sentenced to Life in Prison for Distribution, Structuring, and Money Laundering | Narcotics Trafficking, Money Laundering, Depository Institutions, BSA Violations
Suspicious Activity Report Describes in Great Detail Bank Embezzlement Scheme, Leads to Guilty Plea | Money Laundering, Involving SARs, Depository Institutions
Money Laundering Scheme Transferred Over $12 Million to South American Countries | Narcotics Trafficking, Money Laundering, Involving SARs
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 Filing Leads to 125-Count Indictment in $2.7 Million Embezzlement Case | Money Laundering, Involving SARs, Depository Institutions, BSA Violations, Tax Crimes
SARs Aid Investigators in Case Where an Auto Dealer Laundered Drug Proceeds | Narcotics Trafficking, Money Laundering, Involving SARs, Depository Institutions
SAR Filing Unveils Customs Fraud | Money Laundering, Involving SARs, Depository Institutions
SARs Identify Huge Check-Kiting Scheme by Auto Dealer | Money Laundering, Involving SARs, Fraud, Schemes and Scams, Depository Institutions, Check Crimes
SAR Filings Reveal Methamphetemine Production Ring | Narcotics Trafficking, Money Laundering, Involving SARs, Depository Institutions, BSA Violations
SARs Help Dismantle Interstate Cigarette Smuggling Operation | Money Laundering, Involving SARs, Other Crimes, Involving CTRs, Depository Institutions, Terrorism, BSA Violations
SAR Leads to Break-Up of Stolen Check Ring | Money Laundering, Involving SARs, Depository Institutions
SAR Leads to Guilty Plea for Used Car Dealer Willing to Launder Drug Proceeds | Narcotics Trafficking, Money Laundering, Involving SARs
SAR Leads to Guilty Plea of Money Laundering | Money Laundering, Involving SARs, Depository Institutions
Bank Secrecy Act Records Track Money Laundering Methods of Drug Gang | Narcotics Trafficking, Money Laundering, Involving CTRs, Depository Institutions, Casinos and Card Clubs
SARs Assist in Conviction of Pharmacist | Money Laundering, Involving SARs, Fraud
Proactive SAR Review Leads to Guilty Plea on Conspiracy and Money Laundering Charges | Money Laundering, Involving SARs, Fraud, Tax Crimes
314(a) Results Greatly Enhance Case Involving Material Support to Terrorism | Money Laundering, Involving SARs, Fraud, Terrorism, Tax Crimes
State & Federal Agencies Seize $8.9 Million—Brought Together by Gateway Alert Match Program | Involving CTRs, Involving SARs, Money Laundering