At its annual Law Enforcement Awards ceremony yesterday, 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 their criminal investigations. These reports provided intelligence that led to successful prosecutions of a tax fraud scheme, an illegal bitcoin exchange, cross-border drug trafficking, a local theft ring, trade-based money laundering and illegal transactions involving North Korea.
“BSA data is an important part of our national security apparatus and how we protect the people of our nation from criminals, terrorists, and other bad actors,” said FinCEN Director Kenneth Blanco. “The successful prosecution of the cases recognized here today demonstrates that the information that financial institutions report to us through their BSA filings makes a difference in the lives of many people every day. It provides leads, helps expand cases, identifies networks of criminals and other bad actors, and often helps to alert the regulatory and law enforcement communities to trends in illicit activity, making our communities safer.” View the award recipients.