Abrigo recognized by FinCEN Director’s Law Enforcement Awards Program for AML efforts
Austin, Texas, March 20, 2025 – Abrigo, a leading provider of compliance, credit risk, and lending solutions for financial institutions, was recognized by the Financial Crimes Enforcement Network (FinCEN) for supporting financial institutions and contributing to major criminal investigations through its anti-money laundering and fraud detection monitoring solutions.
Each year, the FinCEN Director’s Law Enforcement Awards Program highlights cases where financial institutions’ AML efforts were instrumental in stopping crime. Out of 37 nominated cases in 2024, more than 8,500 BSA reports from 339 financial institutions led to 178 convictions, $2.5 billion in seized funds, and $2.2 billion in restitution for victims. This recognition from FinCEN highlights just how important tools like Abrigo’s advanced fraud detection and AML technology have become. The right tools don’t just streamline compliance—they help build cases, recover stolen funds, and bring criminals to justice.
Read the full letter of recognition below:
Dear Mr. Blandford:
I am writing to recognize Abrigo for making substantial contributions, through your
institution’s Bank Secrecy Act (BSA) reporting to one of the significant criminal cases
nominated for award consideration in 2024 as part of the tenth annual FinCEN Director’s Law
Enforcement Awards Program.
FinCEN initiated this awards program to recognize significant criminal investigations in
which information reported under the BSA was critical to building an investigation that
ultimately resulted in a successful prosecution. Through this program, a variety of federal and
state law enforcement agencies identified significant cases spanning a broad variety of serious
criminal activity that used BSA reporting as tip and lead information in an investigation that
ultimately led to a successful prosecution.
FinCEN received 37 case nominations for this year’s awards. Collectively, these cases
involved the review and analysis of more than 8,500 BSA reports filed by a total of 339 financial
institutions, including yours. The nominated cases resulted in 178 convictions, $2.5 billion
seized, and $2.2 billion in restitution to help make victims whole – the highest dollar amounts
FinCEN has seen since the program’s inception. The investigations nominated for consideration
in this year’s awards program may not have been pursued without BSA reporting that financial
institutions like yours make, pursuant to FinCEN’s regulatory requirements. Although we are
limited in the level of detail that we can share – due to a need to protect investigative methods
and ensure the confidentiality of your institution’s contributions – we want to provide this letter
and a summary of the related cases (see enclosure) in recognition of your institution’s invaluable
contribution.
The BSA reports that financial institutions like yours file play an important role in
com batting financial crime and in protecting the integrity of the U.S. financial system. Law
enforcement officers, national security agencies, financial regulators, and other stakeholders
extensively use the financial intelligence that financial institutions report to FinCEN under the
BSA. This information is critical to building investigations into diverse types of wrongdoing and
national security threats. FinCEN and our partners use the information your financial institution
and others provide to keep our country strong, our financial system secure, and our families safe
from harm. When your financial institution reports suspicious activity regarding potential elder
fraud, human trafficking, cybercrime, narcotics trafficking, terrorism, or other illicit activity, you
provide incredibly valuable investigatory leads. Your efforts make it much harder for criminals
to benefit from illicit activity and to move or hide illicit proceeds utilizing the U.S. financial
system.
Financial institutions’ BSA reporting also drives FinCEN’s analytic program, the lessons
from which help financial institutions and law enforcement agencies strengthen existing efforts
not just to investigate illicit financial activity after the fact but to detect it earlier and prevent
harm. For example, BSA reporting allows FinCEN to study trends and identify typologies
associated with new illicit finance schemes and develop and implement risk mitigation
responses. BSA reporting also enables FinCEN to develop risk indicators that are disseminated
to the regulated community through information sharing mechanisms such as FinCEN
Exchanges and publications such as policy alerts and advisories and financial trend analyses.
We hope that this letter underscores the importance of your institution’s financial
integrity efforts and reminds everyone contributing to anti-money laundering work at your
institution – from the CEO to the front-line customer service staff- that their efforts truly
make a difference. Thank you again for your important efforts to help maintain the integrity of
the U.S. financial system by aiding in efforts to investigate potential illicit activity. If you have
any questions about FinCEN’s award program, please contact Lynda Gammon via email at
[email protected].
Enclosure:
ATTACHMENT: Summary of Related Cases
Nominated Cases with BSA Reporting from Your Institution
New Jersey State Police
The New Jersey State Police opened an investigation into a large-scale check fraud and money
laundering operation. During the course of the investigation, law enforcement analyzed Bank
Secrecy Act reporting. This reporting provided vital substantive information that led to the
discovery of the fraud and money laundering network and additional associates, aided law
enforcement in deciphering co-mingled funds, and identified vulnerabilities of the extensive
illicit financial network.
Evidence obtained revealed over 1,988 stolen checks totaling more than $9. 7 million dollars,
check-making software, fraudulent tax documents/paystubs, and over 1,000 personal identifying
information items including credit cards, drivers’ licenses, Social Security cards, and numerous
bank account/routing numbers.
Law enforcement charged 35 co-defendants across multiple states, including arresting the lead
defendant. The law enforcement actions disrupted the criminal network and prevented over $9
million in additional stolen funds and fraudulent checks from entering the banking system.
The Atlantic County New Jersey Prosecutor’s Office prosecuted this case.
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About Abrigo
Abrigo is a leading provider of risk management, financial crime prevention, and lending software and services that help more than 2,400 financial institutions manage risk and drive growth in a rapidly changing world. We deliver transformational technology, product innovation, world-class support, and unparalleled expertise so our customers can face complex challenges and make big things happen.
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