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In 2005, a federal task force initiated a 2-year multi-agency investigation against an online pharmaceutical distribution network, resulting in indictments against 18 individuals. The investigation was based on information received from a cooperating witness, who alleged that a pharmaceutical…

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. Attorney General’…

A multi-agency money laundering/marijuana trafficking investigation was initiated following the filing of a SAR by a bank in Tennessee. The SAR disclosed that an individual was depositing large amounts of U.S. currency into three bank accounts. The deposits ranged from $5,000 to $25,000 with the…

The deadline to file a Report of Foreign Bank and Financial Accounts form ("FBAR") with the U.S. Department of the Treasury, in accordance with 31 CFR 103.24, for each calendar year is on or before June 30th of the following year. Thus, the deadline to file the FBAR for calendar year 2001 is June…

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…

A federal judge sentenced the defendant to a prison term after a jury found the defendant guilty of several counts of making false statements to a federally insured bank.The defendant owned a construction firm. A federally insured bank granted the defendant a working capital line of credit to be…

In a case where investigators believe that as much as $7 million in losses may be realized, Bank Secrecy Act (BSA) records helped identify co-conspirators, accounts, and elements of a mortgage fraud scheme. Specifically, Suspicious Activity Reports described transactions related to the fraud in…

In early 2012, FinCEN conducted outreach to all of its state and local law enforcement partners, and asked for cases where FinCEN data played a useful role in their investigations. Below, in their own words, is an example of how FinCEN's stakeholders use FinCEN data. It has been edited only for…

A former California deputy sheriff pled guilty to extortion and Title 31 charges. He was sentenced to serve 60 months in prison followed by 5 years probation, and ordered to pay $300,000 in restitution to one of the victims. His wife received three years probation for related charges. The…

Operation Cheque Mate was initiated in June 2002, after an Immigration and Customs Enforcement source provided information about a United Kingdom-based organization defrauding United States futures and securities firms. This source led to the discovery of many Suspicious Activity Reports which…