President creates new task force to fight financial fraud
President Barack Obama issued an executive order creating a new task force that seeks more cooperation among federal, state and local government officials, to investigate and prosecute cases in an effort to combat financial fraud.
The current economic recession is seeing an increase in mortgage fraud, white-collar crime and health-care fraud, according to the Justice Department’s inspector general. The task force will pursue crimes including mortgage fraud, securities fraud and fraud involving funds from the government’s economic stimulus program, according the Justice Department.
The task force will be led by the Justice Department and include representatives from the SEC, the Treasury Department and the Department of Housing and Urban Development, among a few other agencies.
The Justice Department will hold the first meeting of the task force in the next 30 days.
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LAST UPDATED 11/19/2009