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

BSA Filings Identify Financial Scams Bilking Investors out of $2.2 Million | Broker Dealers, Money Laundering, Involving SARs, ID Crimes, Involving CTRs
State Agency Case Example (Money Services) | Money Services Businesses
State Coordinator's Case Example (Welfare Fraud) | Involving SARs, Fraud, Involving CTRs, Money Services Businesses
Bank Secrecy Act Records Track Money Laundering Methods of Drug Gang | Narcotics Trafficking, Money Laundering, Involving CTRs, Depository Institutions, Casinos and Card Clubs
SAR Initiates Case that Leads to Guilty Pleas for Hiring Illegal Aliens | Involving SARs, Other Crimes, Depository Institutions, BSA Violations
SAR Identifies Links in ATF Cases | Narcotics Trafficking, Money Laundering, Involving SARs
SAR Filing Uncovers Investment Fraud Scheme | Involving SARs, Fraud, Schemes and Scams
Bank Secrecy Act Reports Cast Doubts on Alleged Victim's Story, Lead to Investigation and Indictment for Money Laundering and Operating an Illegal Online Pharmacy | Narcotics Trafficking, Money Laundering, Involving SARs, Other Crimes, Involving CTRs, Depository Institutions, Casinos and Card Clubs, Money Services Businesses
SARs Lead to Recovery of Funds Derived from Medical Fraud | Involving SARs, Fraud, Depository Institutions
Casino Currency Transaction Reports Help Track Funds Embezzled from a Public Utility | Involving CTRs, Schemes and Scams, Casinos and Card Clubs, Corruption
SAR Referral Leads to the Discovery of a $100 Million Mortgage Fraud and Foreclosure Rescue Scheme | Involving SARs, Fraud, Schemes and Scams, Depository Institutions, Tax Crimes
Appeals Court Affirms Conviction in Tax Evasion Case Arising from a SAR | Involving SARs, Depository Institutions, Tax Crimes
Escort Service Operates at and Launders Money through Casino | Money Laundering, Other Crimes, Casinos and Card Clubs
FinCEN Information Helps Jury Convict Cocaine Trafficker | Narcotics Trafficking, Involving SARs, Involving CTRs, Casinos and Card Clubs, BSA Violations
Suspicious Activity Report Leads to Structuring Conviction and Links to Drug Investigation | Narcotics Trafficking, Involving SARs, Depository Institutions, BSA Violations
Conviction for Making False Statements | Other Crimes, Fraud, Depository Institutions
Numerous SARs and CTRs Aid in Hawala Investigation | Informal Value Transfer Systems, Involving CTRs, Money Services Businesses