Jewelry Store Owner Fails to Report Large Cash Transaction,Structures Proceeds from Drug Trafficking | Narcotics Trafficking, Jewelers, Money Laundering, BSA Violations
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:
- FinCEN Announces Recipients of Its Law Enforcement Awards During Tenth Annual Ceremony (2024)
- FinCEN Holds Annual Ceremony to Recognize Law Enforcement Cases Supported by BSA Data (2023)
- Annual FinCEN Program Recognizes Law Enforcement Cases Supported by BSA Data (2022)
- FinCEN Recognizes the Significant Impact of Bank Secrecy Act Data on Law Enforcement Efforts (2021)
- FinCEN Recognizes Law Enforcement Cases Significantly Impacted by Bank Secrecy Act Filings (2020)
- FinCEN Holds Fifth Annual Awards Program to Recognize Importance of Bank Secrecy Act Reporting by Financial Institutions (2019)
- FinCEN Director’s Law Enforcement Awards Program Recognizes Significance of BSA Reporting by Financial Institutions (2018)
- FinCEN Awards Recognize Law Enforcement Success Stories Supported by Bank Secrecy Act Reporting (2017)
- FinCEN Awards Recognize Partnership Between Law Enforcement and Financial Institutions to Fight Financial Crime (2016)
- FinCEN Recognizes High-Impact Law Enforcement Cases Furthered through Financial Institution Reporting (2015)
Search Case Examples Prior to 2015 Using the Drop-Down Menu Below
Doctor Pleads Guilty to Charges Related to Failure to Comply with BSA Reporting Requirements for Overseas Accounts | Depository Institutions, Tax Crimes
Proactive Currency Transaction Report Reviews Lead to Tax Cheats | Involving CTRs, Money Services Businesses, Tax Crimes
State Coordinator’s Case Example (Identity Theft) | Involving SARs, ID Crimes, Depository Institutions
State Agency Case Example (Money Services) | Money Services Businesses
State Agency Case Example (Taxes) | Depository Institutions, Insurance Companies
Local Municipality Case Example (Illegal Exports) | Money Laundering, Involving SARs, Depository Institutions, BSA Violations
Local Municipality Case Example (Failure to Follow Reporting Requirements) | Jewelers, Involving CTRs, Money Services Businesses, Check Crimes
Local Municipality Case Example (Narcotics Trafficking, Money Laundering, and Mortgage Fraud) | Narcotics Trafficking, Money Laundering, Fraud, Involving CTRs, Depository Institutions
Local Municipality Case Example (Stolen Cars) | Other Crimes
Local Municipality Case Example (SARs/CTRs Lead to Asset Forfeiture) | Narcotics Trafficking, Involving SARs, Involving CTRs, Depository Institutions, BSA Violations
Local Municipality Case Example (Drugs and Money Laundering) | Narcotics Trafficking, Money Laundering
State Coordinator’s Case Example (Welfare Fraud) | Involving SARs, Fraud, Involving CTRs, Money Services Businesses
State Coordinator’s Case Example (Embezzlement) | Schemes and Scams, Casinos and Card Clubs
State Coordinator’s Case Example (Fraud) | Schemes and Scams
State Coordinator’s Case Example (Elder Abuse-Financial) | Involving CTRs, Depository Institutions
Attorney General’s Office Case Example (Tax Fraud) | Fraud, Tax Crimes
Attorney General’s Office Case Example (False Billing Scheme) | Schemes and Scams
Attorney General’s Office Case Example (Mortgage Fraud) | Involving SARs, Fraud
State Agency Case Example (Insurance Fraud) | Fraud, Involving CTRs, Money Services Businesses, Insurance Companies
SAR Review Team Discovers Doctor Structuring Deposits | Involving SARs, Depository Institutions, BSA Violations
Detailed SAR Narratives Help Uncover Cigarette Smuggling Operation | Involving SARs, Involving CTRs, Depository Institutions, BSA Violations, Tax Crimes
Suspicious Activity Report Describes in Great Detail Bank Embezzlement Scheme, Leads to Guilty Plea | Money Laundering, Involving SARs, Depository Institutions
Bank Secrecy Act Records Assist in Mortgage Fraud Investigation Resulting in Guilty Plea | Involving SARs, Fraud, Involving CTRs, Depository Institutions, BSA Violations, Money Services Businesses
Suspicious Activity Report Credited with Revealing Bank Fraud Scheme and Unraveling Auto Insurance Fraud Ring that Nets Principal Defendant Nearly $1.3 Million and a Nine-Year Prison Term | Involving SARs, Fraud, Depository Institutions, Check Crimes