Business

Published — March 25, 2009 Updated — May 19, 2014 at 12:19 pm ET

FBI director: Mortgage fraud investigations continue to jump

Introduction

In written testimony before Congress today, FBI Director Robert Mueller admitted that the growing numbers of mortgage fraud investigations “are straining the FBI’s resources.” He cited recent statistics from the Treasury Department’s Financial Crimes Enforcement Network, that the number of Suspicious Activity Reports (SARs) on mortgage fraud has continued to climb.

Back in December, the Center reported on how SARs on potential mortgage fraud incidents – which are filed by financial institutions — ballooned more than 10-fold between 2001 and 2007. Now, says the FBI boss, “there is no sign that our mortgage fraud caseload will decrease in the near future.” Mueller cited stats that the mortgage fraud SARs jumped more than 36 percent in fiscal year 2008, to 63,173. And already in FY2009, Treasury has received 28,873 of the reports.

As the Center reported earlier, the FBI’s work in pursuing white-collar cases, which include mortgage fraud and various other crimes, dropped dramatically after 2001. But in his testimony Mueller wrote that the FBI is shifting resources from other areas to deal with issues around the economic crisis, ramping up the number of agents working solely on the financial crisis to 250 from 120 in 2007.

Read more in Business

Share this article

Join the conversation

Show Comments

6
Leave a Reply

avatar
6 Comment threads
0 Thread replies
0 Followers
 
Most reacted comment
Hottest comment thread
6 Comment authors
install itunes on windows 7Bob FrankstonLinda GordonET69Jello Beyonce Recent comment authors
  Subscribe  
newest oldest most voted
Notify of
sam fetters
Guest
sam fetters

What do AT&T, Verizon and Crown Castle International Corp have in common? The largest institutional shareholders of each includes firms like: Vanguard, BlackRock, State Street (the “Big Three”), Invesco, Fidelity (FMR), JP Morgan, Wellington Management, Geode, T Rowe Price, Bank of America, and other of the largest money-management and investment firms, whom operate collaboratively (even comprising the largest shareholders of each other), forming virtual monopolies amongst the largest “competing” corporations, in most every single industry, via large share holdings. (source = http://investors.morningstar.com/ownership/shareholders-major.html?t=CCI) These are the same firms whom also largely own the third largest telecom, T-Mobile. The own the largest… Read more »

Jello Beyonce
Guest
Jello Beyonce

I’ve a theory that the supposed “Trade Wars” and “sanctions” and political/military strife going on between the U.S., China, Russia, etc. are merely distractions, serving to divert attention away from the growing authoritarianism and Oligarchic control spreading across the globe. “Nationalism” is being used as a propagandist covert means of continued increasing Globalism. As this article states: “A Russian woman stood up to speak at one of these public meetings, and she said that when she lived in Russia, the government slam dunked her and she had no say,” King said. “Now she lives in the United States of America,… Read more »

ET69
Guest
ET69

Marx was right about capitalism . Capital gets more and more concentrated in fewer and fewer hands. There is no way out of this greed. We need socialism!

Linda Gordon
Guest
Linda Gordon

5g is a kill grid. The depployment of this weapon is an act of terroism genocide and ecocide. The marketers need to be jailed as terrorists.

Bob Frankston
Guest

The real issue with 5G is that it’s an attempt to roll back the Internet and return to the telecom of the 1970s when the phone company controlled all.

install itunes on windows 7
Guest

I have read the post and it is really helpful as I have got to know about the 5G wireless cities which are accepting the technology and other cities which are rejecting it.