This story appeared in Bank Digest.
Federal regulators and law enforcement agencies have formed a new task force to combat corporate fraud and fraud against consumers, especially the elderly, service members, and veterans. The Task Force on Market Integrity and Consumer Fraud, created through a White House executive order, was announced by Justice Department Deputy Attorney General Rod Rosenstein, Securities and Exchange Commission Chairman Jay Clayton, Consumer Financial Protection Bureau Acting Director Mick Mulvaney, and Federal Trade Commission Chairman Joseph Simons.
According to prepared remarks by Rosenstein, the task force will focus on "fraud against the government, the financial markets, and consumers; procurement and grant fraud; securities and commodities fraud; digital currency fraud; money laundering; health care fraud; tax fraud; and other financial crimes." One of the group's first objectives, Rosenstein said, will be to identify areas of vulnerability across all of the partner agencies and devote resources to address them.