FBI Releases Its Financial Crimes Report – Priorities Reflect Trends in the U.S. Economy

In February 2012, the FBI released its Financial Crimes Report. The report covers the period October 1, 2009 through September 30, 2011, and reflects that the FBI’s enforcement priorities have in large part paralleled economic trends since 2007.  Skyrocketing foreclosures and delinquencies in the past few years have led to an epidemic of schemes aimed at distressed homeowners, which have displaced traditional loan origination fraud. The schemes include:

  • Bogus Foreclosure Rescue Offers
  • Loan Modification Scams
  • Illegal Property Flipping/Straw Buyers
  • Silent Seconds 

The Bureau has almost tripled the number of agents dedicated to investigating mortgage fraud since 2007, and has placed greater reliance on the analysis of SARs (suspicious activity reports) to detect patterns and schemes relating to mortgage fraud. Additionally the FBI “has established methodology to proactively identify potential mortgage fraud targets using tactical analysis coupled with advanced statistical correlations and computer technologies.”  To read the entire article and see the full report, download the pdf below.

Download PDF