Information gleaned by an interagency investigation from SARs led to the successful prosecution of a man for operating an illegal money transmitting system. On April 30, 2002, a federal jury convicted the defendant for knowingly running an illegal money transmitting operation without a state…
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Case Examples
SARs filed by banks on an officer of an Indiana financial services company led to the discovery and dismantling of a scam that defrauded investors out of an estimated $35-40 million. The SARs were filed after the banks detected the officer was structuring cash withdrawals to avoid Currency…