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

Bank Secrecy Act Records Link Gambling Ring to Structuring at Casinos | Involving SARs, Other Crimes, Involving CTRs, Casinos and Card Clubs, BSA Violations
Business Accused of Structuring | BSA Violations, Money Services Businesses
Business Owner Sentenced for Tax Evasion | Involving SARs, BSA Violations, Tax Crimes
Credit Union Files Suspicious Activity Report and Helps Launch Bank Fraud, International Payment Transfers Investigation | Money Laundering, Involving SARs, Fraud, Depository Institutions, BSA Violations, Check Crimes
Edible Delicacies Land Man in Prison | BSA Violations
Former Banker Sentenced for Avoiding Irs Reporting | Depository Institutions, BSA Violations
Proactive SAR Query Leads to Structuring Conviction | Involving CTRs, BSA Violations
SAR Filing Leads to 125-Count Indictment in $2.7 Million Embezzlement Case | Money Laundering, Involving SARs, Depository Institutions, BSA Violations, Tax Crimes
SAR Filing Leads to Identification of Elaborate Ponzi Schemes | Money Laundering, Involving SARs, Fraud, Schemes and Scams, Depository Institutions, BSA Violations
SAR Filing Trips Up Card Thief | Depository Institutions, BSA Violations
SAR Filings Lead to Discovery of Major Investment Scam | Broker Dealers, Money Laundering, Involving SARs, Fraud, BSA Violations
SAR Filings Lead to Investigation Involving Black Market Peso Exchange | Narcotics Trafficking, Informal Value Transfer Systems, Involving SARs, Depository Institutions, BSA Violations
SAR Filings Reveal Methamphetemine Production Ring | Narcotics Trafficking, Money Laundering, Involving SARs, Depository Institutions, BSA Violations
SAR Leads to Former Deputy Sheriff Sentenced for Extortion and Title 31 Violations | Involving SARs, Other Crimes, Depository Institutions, BSA Violations
SAR Reports Structuring by Unlicensed Msb | BSA Violations, Money Services Businesses
SARs Assist in Money Laundering Investigation Involving the Insurance Industry | Narcotics Trafficking, Involving SARs, BSA Violations, Insurance Companies
SARs Identify Money Laundering of Proceeds from the Sale of Marijuana | Narcotics Trafficking, Involving SARs, Depository Institutions, BSA Violations
SARs Result in Sentencing of Family Members in Bankruptcy Fraud Case | Broker Dealers, Involving SARs, Fraud, Depository Institutions, BSA Violations
Store Owners Plead Guilty to Structuring and Food Stamp Fraud | Involving SARs, Other Crimes, Fraud, BSA Violations
Suspect Sentenced to Five Years in Prison and Ordered to Pay $1 Million in Restitution | Involving SARs, BSA Violations, Tax Crimes
Suspicious Activity Report Details Illicit Check Cashing Activity, Provides Blueprint for Investigation and Indictment | Involving SARs, Involving CTRs, Depository Institutions, BSA Violations, Money Services Businesses, Check Crimes
Suspicious Activity Report Leads to Forfeiture of Currency | Narcotics Trafficking, Involving SARs, Depository Institutions, BSA Violations
Suspicious Activity Report Leads to Guilty Plea in Structuring Case | Depository Institutions, BSA Violations
Suspicious Activity Report Leads to Structuring Conviction and Links to Drug Investigation | Narcotics Trafficking, Involving SARs, Depository Institutions, BSA Violations
Attorney Sentenced in Fraud Case | Involving SARs, Fraud, BSA Violations