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

Jewelry Store Owner Fails to Report Large Cash Transaction,Structures Proceeds from Drug Trafficking | Narcotics Trafficking, Jewelers, Money Laundering, BSA Violations
Suspicious Activity Reports Detail International Payments of Drug Trafficking Ring | Narcotics Trafficking, Involving SARs, BSA Violations, Money Services Businesses
Local Municipality Case Example (Narcotics Trafficking, Money Laundering, and Mortgage Fraud) | Narcotics Trafficking, Money Laundering, Fraud, Involving CTRs, Depository Institutions
Suspicious Activity Report Leads to Conviction of Chief Executive | Involving SARs, Fraud, Depository Institutions
SARs Aid Investigators in Case Where an Auto Dealer Laundered Drug Proceeds | Narcotics Trafficking, Money Laundering, Involving SARs, Depository Institutions
SAR Leads to Guilty Plea for Used Car Dealer Willing to Launder Drug Proceeds | Narcotics Trafficking, Money Laundering, Involving SARs
Attorney Sentenced in Fraud Case | Involving SARs, Fraud, BSA Violations
Operation Mule Train | Money Laundering, Involving SARs, Involving CTRs, Depository Institutions, Money Services Businesses
Suspicious Activity Reports Identify Transactions Linked to Embezzlement of a Tribal Authority | Money Laundering, Involving SARs, Other Crimes, Fraud, Depository Institutions, BSA Violations, Corruption, Tax Crimes
SAR Leads to Convictions of Members of Computer Chip Theft Ring | Money Laundering, Involving SARs, Depository Institutions, Tax Crimes
Illegal Casa De Cambio Launders More Than $5 Million | Money Laundering, Involving SARs, Involving CTRs, Depository Institutions, Money Services Businesses
SAR Leads to Guilty Plea of Money Laundering | Money Laundering, Involving SARs, Depository Institutions
SARs Lead to Discovery of $1.8 Million Hidden in House | Involving SARs, Depository Institutions, BSA Violations, Tax Crimes
Check Kite Nets Two | Involving SARs, Fraud, Check Crimes
Proactive Currency Transaction Report Reviews Lead to Tax Cheats | Involving CTRs, Money Services Businesses, Tax Crimes
SARs Identify Huge Check-Kiting Scheme by Auto Dealer | Money Laundering, Involving SARs, Fraud, Schemes and Scams, Depository Institutions, Check Crimes
Structuring Charges Help Elderly Victim Recover Stolen Funds | Depository Institutions, BSA Violations
Business Used for Money Laundering and Pyramid Scheme | Broker Dealers, Money Laundering, Involving SARs
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
SARs and 314(b) Call Lead to Guilty Plea in Ponzi Scheme | Involving SARs, Fraud, Involving CTRs, Schemes and Scams, Depository Institutions, Casinos and Card Clubs, Check Crimes
SARs Lead to Conviction of Major Cocaine Trafficker | Narcotics Trafficking, Money Laundering, Involving SARs, Fraud, Involving CTRs, Depository Institutions, Tax Crimes
SARs Assist in Money Laundering Investigation Involving the Insurance Industry | Narcotics Trafficking, Involving SARs, BSA Violations, Insurance Companies