In a case initiated from a Suspicious Activity Report (SAR), investigators found perpetrators were operating two separate fraud schemes. The first scheme, a check-kiting fraud, was only possible because of the complicity provided by the chief defendant’s wife who worked at the bank where the…
Members of the media may email inquiries or interview requests to press@fincen.gov.
If you are not a member of the media, please visit the FinCEN contact page.
A multi-agency task force, led by the Bureau of Immigration and Customs Enforcement and including the Federal Bureau of Investigation and Internal Revenue Service Criminal Investigation, is investigating violations related to money laundering, tax fraud and material support to terrorism. As a…
An individual was recently sentenced in United States District Court to six months in prison for operating an unlicensed money transmitter business and for bankruptcy fraud. The subject was also ordered to forfeit over $25,000. This case was initiated after the review of numerous Suspicious…
The submission of a SAR filing led to the uncovering of a $28 million investment fraud scheme in which approximately 140 individuals were victimized. The subject convinced the victims/investors that he was a successful businessman who operated many highly profitable business ventures. The…
The Pennsylvania (Pa.) Office of Attorney General’s Asset Forfeiture and Money
Laundering Section conducted proactive targeting research on SARs that initiated a Pa. State Grand Jury Money Laundering investigation on two suspects.
FinCEN’s Gateway Program was utilized by the Pa.…
Law enforcement initiated an investigation into a defendant for operating an unlicensed money transmitting business and assisting the business in the avoidance of Office of Foreign Asset Control (OFAC) sanctions on a designated country.
The defendant was convicted of violating the…
During a healthcare fraud investigation, a routine search of BSA records revealed CTRs and SARs on one of the subjects. These records opened up avenues of prosecution for money laundering charges as the SARs detailed a series of transactions designed to evade the BSA reporting requirements.…
Prosecutors used information directly derived from BSA records to help convict a repeat drug trafficker in Federal court. The wealth accumulated by the defendant through illicit drug sales became evident by the filing of numerous CTRs by casinos, a Form 8300 filed in conjunction with the…
In 2006, a Federal grand jury indicted several businesses and individuals, including mortgage brokers, on numerous charges of mail fraud, bank fraud, conspiracy to commit mail, wire and bank fraud and contempt of court in a nationwide scheme that purported to eliminate the mortgages of thousands…
An attorney was sentenced to more than four years probation based on a conviction for mail fraud and structuring of currency transactions. The attorney was also ordered to pay nearly $3 million in restitution to the victims of the various schemes and ordered to cooperate with the Internal
…