For the full year 2011, mortgage fraud reports increased 31 percent over 2010, but reports in the fourth quarter were down according to the Financial Crimes Enforcement Network.
FinCEN’s ongoing work directly supports criminal investigations and prosecutions, including in connection with the Financial Fraud Enforcement Task Force and recently the Residential Mortgage-Backed Securities Working Group. President Obama created the Financial Fraud Enforcement Task Force by executive order in November 2009 to wage an aggressive, coordinated and proactive effort to investigate and prosecute financial crimes. With more than 20 federal agencies, 94 U.S. Attorneys’ Offices and State and local partners, it is the broadest coalition of law enforcement, investigatory and regulatory agencies ever assembled to combat fraud and bring to bear a powerful array of criminal and civil enforcement resources. Learn more about the Financial Fraud Enforcement Task Force at www.stopfraud.gov.