US MONEY LAUNDERING REGULATOR TARGETS FINANCIAL FRAUD CONCERNS FOLLOWING RECESSION
November 1st, 2009
BY RUSSELL BERMAN
WHILE the year-old Obama administration has brought a wave of new and proposed regulations for the US financial sector, it has used its anti-money laundering (AML) arm to target an area in which financial crimes have spiked during the economic crisis: mortgage and loan modification fraud.
The Financial Crimes Enforcement Network (FinCEN), the US government's AML agency, has made mortgage fraud a priority in 2009.
FinCEN has pursued more than 100 cases against illegal consumer loan modifications since April, when the agency was named to ...
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