Banks reported more than $1 B in suspicious activity–much of it fentanyl linked
Banks alerted authorities to $1.4 billion in suspicious transactions in 2024, a big assist in the nation’s fight against crime and fentanyl trafficking, according to the Financial Crimes Enforcement Network (FinCEN).
Financial institutions are required under the Bank Secrecy Act (BSA) to report transactions that appear suspicious, because of the amount, the geographic locations, or the people involved.
These BSA reports are used by investigators to halt and prosecute crime, and they are also reviewed annually by FinCEN to detect trends.
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