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
State & Federal Agencies Seize $8.9 Million—Brought Together by Gateway Alert Match Program | Involving CTRs, Involving SARs, Money Laundering
BSA Filings Identify Financial Scams Bilking Investors out of $2.2 Million | Broker Dealers, Money Laundering, Involving SARs, ID Crimes, Involving CTRs
Bank Secrecy Act Data Leads to Seizure of $18 Million | Money Laundering, Involving SARs, Other Crimes
Biggest Worker’s Compensation Scam in Southern California Totaling More Than $3 Million Dollars | Broker Dealers, Money Laundering, Involving SARs, Fraud, Involving CTRs, Tax Crimes, Insurance Companies
Business Used for Money Laundering and Pyramid Scheme | Broker Dealers, Money Laundering, Involving SARs
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
SAR Filing Leads to Identification of Elaborate Ponzi Schemes | Money Laundering, Involving SARs, Fraud, Schemes and Scams, Depository Institutions, BSA Violations
Illegal Casa De Cambio Launders More Than $5 Million | Money Laundering, Involving SARs, Involving CTRs, Depository Institutions, Money Services Businesses
Major Credit Card Thief Convicted | Money Laundering, Involving SARs, Fraud, Involving CTRs
Money Laundering Scheme Transferred Over $12 Million to South American Countries | Narcotics Trafficking, Money Laundering, Involving SARs
SARs Lead to Conviction of Major Cocaine Trafficker | Narcotics Trafficking, Money Laundering, Involving SARs, Fraud, Involving CTRs, Depository Institutions, Tax Crimes
Operation Mule Train | Money Laundering, Involving SARs, Involving CTRs, Depository Institutions, Money Services Businesses
Reports Filed Under the BSA Critical to Largest Medicaid Fraud Case in the Nation | Money Laundering, Involving SARs, Fraud
SAR Filing Leads to 125-Count Indictment in $2.7 Million Embezzlement Case | Money Laundering, Involving SARs, Depository Institutions, BSA Violations, Tax Crimes
Check Cashing Worker Convicted of Money Laundering | Narcotics Trafficking, Money Laundering, Involving SARs, Involving CTRs, Money Services Businesses
BSA Records, 314(a) Request Assists Investigation of International Money Laundering Using Stored Value Cards | Money Laundering, Involving SARs, Other Crimes, Fraud, ID Crimes
SAR Filing Unveils Customs Fraud | Money Laundering, Involving SARs, Depository Institutions
SAR Filings Assist International Money Laundering Case | Money Laundering, Involving SARs
SAR Filings Lead to Discovery of Major Investment Scam | Broker Dealers, Money Laundering, Involving SARs, Fraud, BSA Violations
SAR Filings Reveal Methamphetemine Production Ring | Narcotics Trafficking, Money Laundering, Involving SARs, Depository Institutions, BSA Violations
SAR Filings Unveil Fraudulent Securities Dealer | Broker Dealers, Money Laundering, Involving SARs
SAR Identifies Links in ATF Cases | Narcotics Trafficking, Money Laundering, Involving SARs
SAR Leads to Break-Up of Stolen Check Ring | Money Laundering, Involving SARs, Depository Institutions
Analysis of SAR Filings and CTRs Leads to Indictments of Criminal Organization | Money Laundering, Involving SARs, Involving CTRs