Financial Fraud "one of the most glaring threats" facing the US economy

Mortgage fraud investigations by the FBI increased 400% in 2009, according to an Office of Thrift Supervision (OTS) report on fraud and insider abuse. The report states that, "Difficult economic times often lead to an increase in fraud and insider abuse. During the market downturns of the late 1980s and early 1990s, fraud and insider abuse significantly contributed to thrift failures and caused substantial losses at many others. Since the recession began in 2007, there have been increases in white collar crime as well as changes in the way fraud scams are carried out. Although certain crimes such as, investment fraud and Ponzi schemes are not new, they are increasing as a result of market deterioration. Read the whole story @ http://tinyurl.com/2vnyes5 Buzzwords, forms, technologies, interest rates, documents, these will all change, but so too must we to keep up with the latest cons these fraudsters are pulling. After all, sometimes it’s not even what the bad guys are saying, but how they say it. Are you listening? It is important to note that companies don’t commit fraud – people commit fraud. We must be vigilant against fraud, recognizing its signs and taking proactive, definite, and realistic steps to not only prevent it but also punish it. It starts with me. It starts with you. It starts with us… You are all encouraged to report any suspected mortgage fraud activity to authorities. Michael S. Richardson Director/Chief Quality Officer Author of "An American Epidemic, Mortgage Fraud a Serious Business" www.mortgagefraudsolutions.com Follow me on Twitter @ FocusonFraud