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 Reveals Major Sports Betting Ring | Involving SARs, Other Crimes, Depository Institutions
314(a) Results Greatly Enhance Case Involving Material Support to Terrorism | Money Laundering, Involving SARs, Fraud, Terrorism, Tax Crimes
SAR Helps in Investigation of Doctor Prescribing Thousands of Pain Relief Pills | Narcotics Trafficking, Involving SARs, Depository Institutions, BSA Violations, Tax Crimes
SARs Lead to Recovery of Funds Derived from Medical Fraud | Involving SARs, Fraud, Depository Institutions
Cocaine Dealer Sentenced to Life in Prison for Distribution, Structuring, and Money Laundering | Narcotics Trafficking, Money Laundering, Depository Institutions, BSA Violations
SAR Filings Lead to Discovery of Major Investment Scam | Broker Dealers, Money Laundering, Involving SARs, Fraud, BSA Violations
Proactive SAR Review Uncovers $15 Million Securities Conversion Scheme | Broker Dealers, Involving SARs, Fraud, Depository Institutions
State Agency Case Example (Taxes) | Depository Institutions, Insurance Companies
Paralegal Found Guilty at Trial on Structuring Charges | Fraud, Depository Institutions, BSA Violations
Suspicious Activity Report Leads to Forfeiture of Currency | Narcotics Trafficking, Involving SARs, Depository Institutions, BSA Violations
Defendant Pleads Guilty in Structuring Case | Depository Institutions, Casinos and Card Clubs, BSA Violations
SARs Help Uncover Scheme to Hide Payments from Drug Traffickers to Buy Vehicles | Narcotics Trafficking, Involving SARs, Schemes and Scams, Depository Institutions, BSA Violations
State Coordinator's Case Example (Elder Abuse-Financial) | Involving CTRs, Depository Institutions
SAR Leads to Recovery of Funds Derived from Foreign Corruption | Money Laundering, Involving SARs, Fraud, Schemes and Scams, Corruption
SARs Lead to Structuring and Tax Convictions | Involving SARs, Involving CTRs, Schemes and Scams, Depository Institutions, BSA Violations, Tax Crimes
Illicit Wire Activity Destined for Sanctioned Country | Informal Value Transfer Systems, Other Crimes, Depository Institutions, Money Services Businesses
Conviction for Making False Statements | Other Crimes, Fraud, Depository Institutions
Purported Charity Attempts to Evade Reporting Requirements | Involving SARs, Fraud, Depository Institutions
SAR Filings Reveal Methamphetemine Production Ring | Narcotics Trafficking, Money Laundering, Involving SARs, Depository Institutions, BSA Violations
BSA Records Identify Accounts and Transactions Related to an Illegal Gambling Enterprise | Money Laundering, Other Crimes, Depository Institutions, BSA Violations