Appeals Court Affirms Conviction in Tax Evasion Case Arising from a SAR | Involving SARs, Depository Institutions, Tax Crimes
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
Insurance Executive Sentenced in Embezzlement Scheme | Involving SARs, Schemes and Scams, Insurance Companies
SAR Filings Assist International Money Laundering Case | Money Laundering, Involving SARs
Store Owners Plead Guilty to Structuring and Food Stamp Fraud | Involving SARs, Other Crimes, Fraud, BSA Violations
Structuring and Tax Charges | Depository Institutions, BSA Violations, Tax Crimes
SAR Leads to Guilty Plea for Used Car Dealer Willing to Launder Drug Proceeds | Narcotics Trafficking, Money Laundering, Involving SARs
State Jury Convicts Defendant of Structuring to Avoid BSAReporting Requirements | Money Laundering, Involving SARs, Fraud, Involving CTRs, Depository Institutions, BSA Violations
SARs Help Identify Accounts and Additional Nigerian 419 Scams Associated with $32 Million Coal Mine and “Divine Gold” Ponzi Scheme | Involving SARs, Fraud, Schemes and Scams
BSA Filings Identify Financial Scams Bilking Investors out of $2.2 Million | Broker Dealers, Money Laundering, Involving SARs, ID Crimes, Involving CTRs
Major Credit Card Thief Convicted | Money Laundering, Involving SARs, Fraud, Involving CTRs
SAR Filings Reveal Methamphetemine Production Ring | Narcotics Trafficking, Money Laundering, Involving SARs, Depository Institutions, BSA Violations
Suspicious Activity Report Initiates Bank Failure Investigation | Depository Institutions
Proactive SAR Review Leads to the Arrest of Army Officer and Recovery of Iraqi War Funds | Money Laundering, Involving SARs, Depository Institutions, BSA Violations, Corruption
Proactive Suspicious Activity Report Review Leads to Guilty Plea for Money Remitter Structuring Transactions | Involving SARs, Depository Institutions, BSA Violations, Money Services Businesses
Paralegal Found Guilty at Trial on Structuring Charges | Fraud, Depository Institutions, BSA Violations
Bank Manager Steals Hundreds of Thousands of Dollars: Scam Even Targets Sister | Depository Institutions
Money Laundering Scheme Transferred Over $12 Million to South American Countries | Narcotics Trafficking, Money Laundering, Involving SARs
SAR Identifies Suspects Involved in a Nigerian Advance Fee Scam | Involving SARs, Schemes and Scams, Depository Institutions
Suspicious Activity Report Initiates Material Support of Terrorism Investigation | Depository Institutions, Money Services Businesses
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
Proactive Suspicious Activity Report Search Leads to Guilty Plea in Tax Fraud Investigation | Involving SARs, Involving CTRs, Depository Institutions, BSA Violations, Tax Crimes
Jewelry Store Owner Fails to Report Large Cash Transaction,Structures Proceeds from Drug Trafficking | Narcotics Trafficking, Jewelers, Money Laundering, BSA Violations
Bank Secrecy Act Records Found in Real Estate Fraud Case Lead to Separate $1.5 Million Embezzlement Scheme | Involving SARs, Fraud, Schemes and Scams
One Hundred SARs Help Outline Size and Scope of Fraudulent Mortgage Elimination Scheme | Involving SARs, Fraud, Depository Institutions
SAR Leads to Conviction of Iraqi Money Launderer | Money Laundering, Involving SARs, Other Crimes