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Financial Fraud Enforcement Task Force (FFETF)

FinCEN continues to engage heavily within the FFETF as co-chair of the Training and Information Sharing Committee and at the working group level. Based on our strong foundation of sharing information with our law enforcement partners, we are working diligently to support the efforts of our Federal, State, and local colleagues who are working hard to investigate and prosecute this criminal activity.

      - FinCEN Director James H. Freis, Jr. speaking to the ABA/ABA Money Laundering
        Enforcement Conference, October 2010.

What is the Financial Fraud Enforcement Task Force?

President Obama established the Financial Fraud Enforcement Task Force (FFETF) in November 2009 to hold accountable those who helped bring about the last financial crisis, and to prevent another crisis from happening. The task force is improving efforts across the government and with State and local partners to investigate and prosecute significant financial crimes, ensure just and effective punishment for those who perpetrate financial crimes, recover proceeds for victims, and address financial discrimination in the lending and financial markets. Read More

With more than 20 Federal agencies, 94 U.S. Attorneys’ Offices and State and local partners, it’s the broadest coalition of law enforcement, investigatory, and regulatory agencies ever assembled to combat fraud. FinCEN has been actively involved in these efforts, as Suspicious Activity Reports are one of the best sources of lead information for law enforcement in fighting financial crime, and because of FinCEN’s ability to build upon our existing network of support to law enforcement at the Federal, State, and local levels and the financial regulators. Of the three Task Force committees enumerated in President Obama’s Executive Order, FinCEN serves together with the Justice Department’s Executive Office for United States Attorneys as co-chair of the Training and Information Sharing Committee. Collapse

Financial Fraud Enforcement Task Force: Stopfraud.gov.
First Year Report Financial Fraud Enforcement Task Force 2010 (06/15/2011)

First Year Report Report Financial Fraud Enforcement Task Force 2010 (06/15/2011) covers the contributions of the coalition including those of FinCEN. For example, FinCEN provided substantial financial intelligence and analysis to the law enforcement community including numerous securities fraud referrals used in dozens of ongoing hedge fund cases to the SEC. Read More

Advisories

• Updated Advisory (FIN-2010-A006) to Financial Institutions on Filing Suspicious Activity Reports Regarding Loan Modification/Foreclosure Rescue Scams (06/17/2010) HTML | PDF
• Advisory to Financial Institutions on Filing Suspicious Activity Reports Regarding Home Equity Conversion Mortgage Fraud Schemes (04/27/2010) HTML | PDF

News Releases

• Department of Justice News Release: Mortgage Fraud Summits Arm Distressed Homeowners with Information to Protect Them from Scams (06/26/2012) HTML Only
• Department of Justice News Release: Former Chief Financial Officer of Taylor, Bean & Whitaker Sentenced to 60 Months in Prison for Fraud Scheme (06/15/2012) HTML Only
• Department of Justice News Release: Former Chief Financial Officer of Taylor, Bean & Whitaker Pleads Guilty to Fraud Scheme (03/20/2012) HTML Only
• Department of Justice News Release: Georgia Men Sentenced to Prison for Reverse Mortgage Scheme (02/23/2012) HTML Only
• Department of Justice News Release: Attorney General Eric Holder Launches Consumer Protection Working Group to Combat Consumer Fraud (02/10/2012) HTML Only
• Department of Justice News Release: Attorney General Holder Speaks at the Announcement of the Financial Fraud Enforcement Task Force's New Residential Mortgage-Backed Securities Working Group (01/27/2012) HTML Only
• Department of Justice News Release: Former Chairman of Taylor, Bean & Whitaker Sentenced to 30 Years in Prison and Ordered to Forfeit $38.5 Million (06/30/2011) HTML Only
• Department of Justice News Release: Former Chairman of Taylor, Bean & Whitaker Convicted for $2.9 Billion Fraud Scheme That Contributed to the Failure of Colonial Bank (04/20/2011) HTML Only
• Department of Justice News Release: Former TBW Financial Analyst Pleads Guilty in $1.5 Billion Fraud Scheme (03/31/2011) HTML Only
• Department of Justice News Release: Former Treasurer of Taylor, Bean & Whitaker Pleads Guilty to $1.9 Billion Fraud Scheme That Contributed to the Failure of Colonial Bank (02/24/2011) HTML Only
• FinCEN Analysis: Foreclosure Rescue Scam Reports Increase (06/17/2010) HTML | PDF
• Department of Justice News Release: Attorney General Eric Holder Speaks at the Operation Stolen Dreams Press Conference (06/17/2010) HTML Only
• Department of Justice News Release: Financial Fraud Enforcement Task Force Announces Results of Broadest Mortgage Fraud Sweep in History (06/17/2010) HTML Only
• Department of Justice News Release: Former Chairman of Taylor, Bean & Whitaker Indicted for His Role in a More Than $1.9 Billion Fraud Scheme That Contributed to the Failure of Colonial Bank (06/16/2010) HTML Only
• Department of Justice News Release: Financial Fraud Enforcement Task Force Hosts Mortgage Fraud Summit in Detroit (04/23/2010) HTML Only
• Department of Justice News Release: Two Members of Reverse Mortgage Fraud Ring Plead Guilty (04/08/2010) PDF Only
• Department of Justice News Release: Attorney General Holder, Financial Fraud Enforcement Task Force Announce New Funding Distribution for Enforcement Efforts at Mortgage Fraud Summit in Phoenix (03/25/2010) HTML Only
• Department of Justice News Release: Financial Fraud Enforcement Task Force Hosts Mortgage Fraud Summit in Miami (02/24/2010) HTML Only
• President Obama Establishes Interagency Financial Fraud Enforcement Task Force (11/17/2009) HTML Only

Additional Resources

• Foreclosure Rescue Scams & Loan Modification Fraud
• FinCEN's Mortgage and Real Estate Fraud Resources