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

SARs Help Dismantle Interstate Cigarette Smuggling Operation | Money Laundering, Involving SARs, Other Crimes, Involving CTRs, Depository Institutions, Terrorism, BSA Violations
BSA Records Help Dismantle Oxycodone Ring | Narcotics Trafficking, Money Laundering, Involving SARs, Involving CTRs, Depository Institutions, Money Services Businesses
SARs Help Bust $1 Million Drug Ring Led by Significantly Older Student | Narcotics Trafficking, Money Laundering, Involving SARs, Depository Institutions, BSA Violations
SAR Leads to Guilty Plea for Used Car Dealer Willing to Launder Drug Proceeds | Narcotics Trafficking, Money Laundering, Involving SARs
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 Reports Cast Doubts on Alleged Victim's Story, Lead to Investigation and Indictment for Money Laundering and Operating an Illegal Online Pharmacy | Narcotics Trafficking, Money Laundering, Involving SARs, Other Crimes, Involving CTRs, Depository Institutions, Casinos and Card Clubs, Money Services Businesses
Bank Secrecy Act Records Track Money Laundering Methods of Drug Gang | Narcotics Trafficking, Money Laundering, Involving CTRs, Depository Institutions, Casinos and Card Clubs
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
BSA Records “Critical” in Conviction of Money Launderer in Organized Retail Theft Case | Money Laundering, Involving SARs, Other Crimes, Depository Institutions, BSA Violations, Money Services Businesses
Suspicious Activity Reports Describe Marijuana Traffickers’ Attempt to Wash, Dry, and Iron “Dirty” Currency | Narcotics Trafficking, Money Laundering, Involving SARs, Other Crimes, Depository Institutions, BSA Violations
Securities Dealer Provides Details of High Yield Investment Program Scheme | Broker Dealers, Money Laundering, Involving SARs, Fraud
SAR Jump-Starts Investigation into Natural Resources Ponzi Scheme | Money Laundering, Involving SARs, Fraud, Schemes and Scams, Depository Institutions, Check Crimes
State Jury Convicts Defendant of Structuring to Avoid BSAReporting Requirements | Money Laundering, Involving SARs, Fraud, Involving CTRs, Depository Institutions, BSA Violations
Escort Service Operates at and Launders Money through Casino | Money Laundering, Other Crimes, Casinos and Card Clubs
Jewelry Store Owner Fails to Report Large Cash Transaction,Structures Proceeds from Drug Trafficking | Narcotics Trafficking, Jewelers, Money Laundering, BSA Violations
Local Municipality Case Example (Illegal Exports) | Money Laundering, Involving SARs, Depository Institutions, BSA Violations
Local Municipality Case Example (Narcotics Trafficking, Money Laundering, and Mortgage Fraud) | Narcotics Trafficking, Money Laundering, Fraud, Involving CTRs, Depository Institutions
Local Municipality Case Example (Drugs and Money Laundering) | Narcotics Trafficking, Money Laundering
314(a) Results Greatly Enhance Case Involving Material Support to Terrorism | Money Laundering, Involving SARs, Fraud, Terrorism, Tax Crimes
Suspicious Activity Reports Document Bank Transactions on Behalf of Drug Trafficker | Narcotics Trafficking, Money Laundering, Involving SARs, Involving CTRs, Depository Institutions, BSA Violations