The Value of FinCEN Data


Magnifying Glass in Front of Bookshelf

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:

Search Case Examples Prior to 2015 Using the Drop-Down Menu Below

SAR Filing Results in Arrests on Drug Trafficking and Money Laundering | Depository Institutions, Involving SARs, Money Laundering, Narcotics Trafficking
Individual Sentenced for Operating an Unlicensed Money Transmitting Business & Bankruptcy Fraud | Depository Institutions, Involving CTRs, Money Services Businesses
BSA Documents Lead to Repatriation & Seizure of over $9 Million Generated by Illegal Internet Pharmacy | Depository Institutions, Involving SARs, Money Services Businesses, Other Crimes
Illegal Casa De Cambio Launders More Than $5 Million | Money Laundering, Involving SARs, Involving CTRs, Depository Institutions, Money Services Businesses
Six People Arrested for Allegedly Bilking Millions of Dollars of Goods from Food Bank | Money Laundering, Involving SARs, Involving CTRs, Insurance Companies
Drug Trafficker Pleads Guilty to Structuring and Money Laundering Charges | Narcotics Trafficking, Money Laundering, Depository Institutions, BSA Violations
BSA Records Help Dismantle Oxycodone Ring | Narcotics Trafficking, Money Laundering, Involving SARs, Involving CTRs, Depository Institutions, Money Services Businesses
SAR Leads to Guilty Plea in Case against Doctor | Involving SARs, Fraud, Involving CTRs, Depository Institutions, BSA Violations, Tax Crimes, Insurance Companies
Bank Secrecy Act Records Assist in Mortgage Fraud Investigation Resulting in Guilty Plea | Involving SARs, Fraud, Involving CTRs, Depository Institutions, BSA Violations, Money Services Businesses
Appeals Court Affirms Conviction in Tax Evasion Case Arising from a SAR | Involving SARs, Depository Institutions, Tax Crimes
Insurance Executive Sentenced in Embezzlement Scheme | Involving SARs, Schemes and Scams, Insurance Companies
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
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
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