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State Agency Case Example (Insurance Fraud)
"I am a crime intelligence analyst in the fraud division currently assisting my detective on a worker's compensation case that involves a check cashing company. We decided to look at the companies that have cashed the largest number of checks at this particular check cashing establishment. We wanted to see if in fact the amount of payroll cashed was equivalent to what was reported to the worker's compensation insurance carrier. After getting the worker's compensation coverage information, I realized that the company did not have any coverage in over 3 years. I was a bit disappointed because I was hoping the company was still in business and active in cashing checks, otherwise the case would not pan out to be much of anything.
The decision to run a FinCEN report on the company was made, and lo and behold, CTRs for this particular company have been nonstop through and including those years they were not covered by worker's compensation insurance, including a recent transaction. Our investigation received a boost thanks to FinCEN."
[Published in The SAR Activity Review - Trends, Tips & Issues, 22, October 2012]