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Items Tagged with 'Financial Crimes Enforcement Network'

ARTICLES

TD Bank to pay $52.5 million following SEC charges

Ponzi scheme puts former executive in prison for 50 years
Megan Hopkins
Canadian-based Toronto-Dominion Bank, along with a former executive, was charged on Monday with violating securities laws linked to a massive South Florida ponzi scheme.
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DOJ and FBI retract previous mortgage fraud numbers

Analysts expect 25% decline in suspected mortgage fraud in 2012
Megan Hopkins
The government continues its ongoing battle against mortgage fraud, even as it finds itself retrenching from a report that inflated certain mortgage fraud statistics.
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FinCEN: Suspicious foreclosure rescues alert investigators

Kerri Ann Panchuk
Approximately 69,000 reports of potential mortgage fraud surfaced in 2012, a steep 25% decline from 92,000 reports in 2011, Jennifer Shasky Calvery, director of the Financial...
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Suspected mortgage fraud tops FinCen list

Kerri Ann Panchuk
Potential mortgage fraud reports recorded in 2010 and 2011 accounted for 37% of all suspicious mortgage-related activity filings in the past decade, the Treasury department's Financial...
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FinCEN: Reports of potential mortgage fraud rose in 2011

Kerri Ann Panchuk
The number of suspicious activity reports grew 31% in 2011 when compared to 2010, according to the Financial Crimes Enforcement Network.Suspicious activity reports do not suggest...
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Interthinx, FinCEN track mortgage fraud in different ways

Jessica Huseman
Both the Financial Crimes Enforcement Network and Interthinx released their numbers for mortgage fraud for the third quarter of 2011. While they seem to be addressing...
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Mortgage fraud reports swell 20% in third quarter

Justin T. Hilley and Christopher Whalen
Suspicious mortgage fraud activity that occurred at least four years ago induced filings in the third quarter to spike 20% from a year earlier.Financial institutions filed...
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Nonbank mortgage lenders required to file fraud reports

Jon Prior
Nonbank mortgage lenders will be required to establish anti-money laundering programs and file suspicious activity reports beginning later this year, according to rules finalized by the...
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Mortgage Fraud Reports Jump 23% in 2008

Jon Prior
Suspicious Activity Reports (SARs) including fraud accounts filed by depository institutions in 2008 increased by 13% from 2007, according to the SAR activity review released by the Financial Crimes Enforcement Network (FinCEN). All seven categories of fraud including mortgage loans rose by double digits. Last year, 64,816 accounts of mortgage loan fraud were filed, rising 23% from 2007. The reports have increased every year since 2003. The fraud categories make up just one-third of all possible violation types, but in 2008, accounted for half of the total SAR filings.
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Multi-Agency Crackdown on Foreclosure Rescue Scams Unveiled

Kelly Curran
Treasury secretary Timothy Geithner, along with other agency leaders, announced Monday morning in a press conference a multi-agency crackdown on bad actors in foreclosure scams. The new effort aligns responses from federal law enforcement agencies, state investigators and prosecutors, civil enforcement authorities, and the private sector to protect homeowners seeking assistance under the Administration's Making Home Affordable program from criminal actors looking to perpetrate predatory schemes.
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