FinCEN Recognizes Law Enforcement Successes Resulting from BSA Reporting

At its annual Law Enforcement Awards ceremony, held virtually today, the Financial Crimes Enforcement Network recognized several state and federal law enforcement agencies for their work using information reported by financial institutions under the Bank Secrecy Act in its criminal investigations.

The reports provided intelligence that led to arrests related to Paycheck Protection Program fraud, the identification of drug organizations, dismantlement of a terrorist organization’s online infrastructure and convictions for money laundering through real estate deals.

“The law enforcement work that we recognize today highlights both the importance of an effective partnership between FinCEN, financial institutions, and our law enforcement agencies, and the value of BSA reporting in protecting the American people from fraud, cybercrime and the illicit finance threats confronting our nation,” said FinCEN Acting Director Michael Mosier. “These cases concretely aided people all around us–victims of crime and exploitation. This tireless work is about helping the most vulnerable among us, a matter of financial integrity but also human integrity.”