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05/13/10

Loan Scams are Financial Fraud


This April, the Financial Fraud Enforcement Task Force, established by President Barack Obama to investigate and prosecute financial crimes hosted its third mortgage fraud outreach summit in Detroit. This multi-agency effort has also made the reporting tools on the www.PreventLoanScams.org available at its one-stop shop website for financial fraud reporting, http://www.stopfraud.gov/.

Mortgage fraud and white collar crimes strike at the economic heart of the American system," said U.S. Department of Housing and Urban Development (HUD) Inspector General Kenneth Donohue.  The task force will host several community outreach events focusing on helping homeowners across the United States to learn how to protect themselves from becoming victims of mortgage fraud.

Click here to read the Department of Justice Press Release on the Financial Fraud Enforcement Task Force.