In late 2006, a United States Attorney’s Office secured a guilty plea in a major racketeering case involving trash collectors and organized crime. The multi-state investigation included ten federal, state, and local agencies and resulted in a multiple-count indictment. Hundreds of BSA records…
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An individual from Catlettsbury, Kentucky pleaded guilty in U.S. District Court on May 19, 1999, to laundering $5.9 million in drug proceeds from the sale of marijuana in West Virginia and Kentucky. The indictment alleged that the individual, his brothers, his stepbrother, and three other…
Two SARs filed by a central Florida bank resulted in the initiation of a money laundering investigation of a fraudulent securities dealer operating a prime bank fraud scheme. The SARs reported unusual account activity and international wire transfers in the tens of millions of dollars. The case…
A Suspicious Activity Report filed by a financial institution led to a bank fraud investigation by the Federal Bureau of Investigation and the Federal Deposit Insurance Corporation’s Office of Inspector General. The Suspicious Activity Report implicated a loan secretary in the misapplication of…
In a case where a corrupt politician extorted money from his constituents, investigators examining his financial records found numerous instances of structuring. In fact, three different banks filed SARs on the defendant detailing unusual transactions. Prosecutors charged the official with…
In a case that started when a bank notified federal agents that it intended to file a SAR on two subjects, investigators utilized BSA records to uncover additional participants in a fraud scheme. The investigation determined that the participants used stolen account information to steal funds…
Case summary: In 2010, a United States Attorney announced that a doctor pled guilty to conspiracy to impede the United States and to making a false statement. He was facing a maximum sentence of ten years in prison and a maximum fine of $500,000.
Case details: According to court…
U.S. law enforcement and regulatory agencies give priority to detecting terrorist financing. In particular, they seek to identify individuals or businesses used as fundraising vehicles and to detail the movement of financial assets. Effectively implementing strategies that prevent, disrupt and…
A routine Suspicious Activity Report review by geographic zip codes led to the discovery of a retail store operator operating as a subagent for a licensed money services business. The preliminary investigation by the filing institution, along with a follow-up investigation by the Drug…
In February 2002, SAR information provided by an investment account firm revealed wire transfers in excess of $500,000 originated from an individual's account, through a trading company in Dubai, UAE, for transfer to Iran. Investigation disclosed the account holder had made comments to the…