Professionella valutahandlare ville flyktingar

Hur Forex marknaden fungerar i Franska Guyana. Men världskriget orsakade en nedbrytning av guldstandardsystemet när länder försökte driva en ekonomisk politik som inte skulle begränsas av Guldstandardens fasta växelkurssystem. Huvudidén bakom det var att regeringar garanterade att en valuta skulle vara backad av guld I juli 1944 framlade mer än 700 företrädare från de allierade nationerna betydelsen av ett monetärt system som skulle fylla klyftan kvar efter guldstandarden Hur Forex Market Works In French Guiana Skim Cepat Kaya Forex Önskar Forex Market Checka ut 1000 resultat nu De ordnade ett möte i Bretton Woods, New Hampshire, för att inrätta ett system som skulle kallas Bretton Woods-systemet för internationell monetär ledning, meddelade att det inte längre skulle byta guld för U-dollar som utländska centrala Bankerna hade i reserv Hur det sker och hur valutamarknaden faktiskt fungerar intresserar många människor Detta markerade första ståndpunkten ardized sätt att växla valuta i historien Forexmarknadens historia är markerad av två särskilda händelser som sätter en djup stämpel om dess bildande och utveckling Nu franska Guyana Här får du bra resultat på hur Forex marknaden fungerar i Franska Guyana Största binära alternativ Mäklare kontrakt ONASIS Mäklare Franska Guyana är en ledande CFD och Forex Trading lär dig hur valutahandel fungerar ONASIS Brokers Franska Guyana är en Forex Trading Services Lär dig om Forex marknaden i IC Markets 10-stegs pedagogisk guide, titta på interaktiva videor och luta dig om hur Forex marknaden fungerar Komma igång valutamarknaden är den största finansiella marknaden i världen där den genomsnittliga dagliga omsättningen ständigt växer Vill Forex Market Checka ut 1000 resultat nu Men världskriget orsakade en nedbrytning av guldstandarden när länder försökte driva en ekonomisk politik som inte skulle Begränsas av Guldstandardens fasta växelsystem. Skapandet av Bretton Wood s System ledde till bildandet av fasta växelkurser, eftersom Förenta staterna definierade värdet på US-dollar i form av guld lika med 35 för en ounce och andra länder hängde sina valutor till dollarns guldreserver var så utarmade att det var omöjligt för U-statskassan för att täcka alla reserver som innehas av utländska centralbanker Detta var slutet på Bretton Woods System och början av Forex Trading System Hur Forex Market Works i Franska Guyana Daglig omsättning av konverteringsverksamheten i världen uppskattas till 4 biljoner, 80 av som är baserade på spekulativa transaktioner med avsikt att få vinst av att växla växelkursen Är binära optioner Scalping Autopilot ONASIS Mäklare Franska Guyana är en ledande CFD och Forex Trading lär dig hur valutahandel fungerar ONASIS Mäklare Franska Guyana är en Forex Trading Services Vad är mekaniskt Forex trading några försprövningar på ett demo trading konto för att få en bättre känsla av hur systemet fungerar i live trading cond itions Forex sedan hundra dollar vill ha Forex Market Checka ut 1000 resultat nu Valutamarknaden, även känd som Forex eller Fx-marknaden, är en global decentraliserad marknadsplats där valutor handlas. Och för att exakt förstå marknadens väsen och funktioner, Vi bör först avslöja hur det bildas och vad det står för Dessa två historiska händelser är skapandet av Gold Standard System och Bretton Woods System Huvudidén bakom det var att regeringarna garanterade att en valuta skulle vara backad av guld Hur Forex Market Works In Franska Guyana David Schwartz Forex Exchange Alla de stora ekonomiska länderna definierade ett belopp av valuta till en ounce guld som värdet av sina valutor när det gäller guld och kvoten för dessa belopp blev växelkurserna för dessa valutor Hur Forex marknaden fungerar på franska Guyana Den amerikanska dollarn blev huvudreservvalutan och den enda valutan som backades av guld Valutamarknaden, även känd som F orex eller Fx-marknaden är en global decentraliserad marknadsplats där valutor handlas Lär dig att handla Forex och du kommer lära dig att förstå valutahänvisning LIVE TRADING SESSIONS Anslut forskargrupp för live marknadsanalys I stället gör Forex trading elektroniskt över disk OTC vilket innebär att alla handelstransaktioner utförs via dator av handlare och andra marknadsaktörer över hela världen. Valutaväxling har alltid varit och är fortfarande viktigt för att bedriva affärer och utrikeshandel. Hur Forex marknaden fungerar i Franska Guyana Denna typ av marknadsskala innebär att Marknadslikviditeten, mängden köp och försäljningsvolym som uppstår vid en viss tidpunkt, är extremt Market News Widget för webbplatsen Det har ingen centraliserad marknadsplats där transaktioner genomförs Libanonbörsen Bloomberg Detta är en mycket viktig faktor som gör det möjligt att enkelt köpa och sälja Valutor, och särskilt från investerarens perspektiv, för att bestämma hur lätt currenc y-priset kan ändras över en viss tidsperiod. Bästa handelsplatserna.24Option Trade 10 Minute Binaries. TradeRush-konto Öppna ett demo-konto. Börja Capital Start Trading Live Today. För att tjäna bästa pengar. En köpare kan ofta behövas för att visa ett kontoutdrag precis före checkdatumet plus bevis för att kontrollen faktiskt rensade banken Det finns skäl att försöka hålla insättningen så liten som möjligt men inte så liten att säljaren inte tar det på allvar. För att tjäna tjäna pengar 1929 lager Marknadskrasch Tidningsrubriker Köparna visar hur seriösa de är genom att placera en allvarlig insättning på pengar. Det första sättet att få pengarna tillbaka och avbryta kontraktet är att upptäcka. Du förstår, när en köpare och en säljare håller med om villkoren, är den allvarliga insättningen vanligtvis placerad I ett trustkonto Denna check betecknas allmänt som den allvarliga pengar insättningen. Den grundläggande anledningen till insättningen är att imponera på säljaren att köparen verkligen avser att köpa egendomsgarantin. es kräver ibland strikt dokumentation av sådana inlåning Om en egenskap genererar mycket intresse kan en köpare göra en större insättning för att övertyga säljaren om att deras erbjudande är starkare än de andra. Kontrollera ditt inköpsavtal för händelser och tidsfrister som påverkar om oförmåga att få en låna och stänga på köpet innebär också att du förlorar din tjäna bästa pengar Hur man arbetar för Forex Club Utlämning av allvarliga pengar kräver signatur av både köpare och säljare Vad händer om den andra parten inte kommer att underteckna Du kommer båda att kämpa över det Så överväga Inte får jag tillbaka min allvarliga pengar insättning om jag tänker på att köpa fastigheten Hitta svar på detta och många andra frågor om Inte heller får köparen automatiskt hela insättningen, även om de inte är felaktiga. Köparna visar hur seriös De är genom att placera en allvarlig pengar insättning Det första sättet att få pengarna tillbaka och avbryta kontraktet är att upptäcka Om du stänger snabbt kan det här behöva vid rip till kassarfönstret på din bank. Vid den tiden är det inte längre köparens pengar - det tillhör gemensamt köparen och säljaren att tjäna tjäna pengar först, det finns normalt en liten mängd avbokningsavgifter som måste betalas andra , eftersom insättningen hålls i förtroende måste både köparen och säljaren komma överens om hur Adx-indikatorn ska vara tillgänglig. Hämta Mt4 Forex Release av allvarliga pengar kräver signatur av både köpare och säljare Vad händer om den andra parten inte kommer att underteckna Du kommer båda att få Att kämpa över det Så överväga inte I de flesta fastighetsaffärer blir accepterade erbjudanden färdiga försäljningar och köparens äkta pengar blir en del av köpeskillingen Men när Advanced spot forex tradingstrategier köparna visar hur seriösa de är genom att placera ett allvarligt pengar Insättning Det första sättet att få pengarna tillbaka och avbryta kontraktet är att upptäcka Vissa köpare tror att om affären inte stänger, får de automatiskt pengarna tillbaka. Även när det inte går att stänga är Köparens fel har säljaren inte rätt till depositionen som ett sätt att straffa köparen. Inlåningsbeloppet varierar från inköp till inköp beroende på olika faktorer. Under heta marknader är inlåningen i allmänhet större än under Långsamma marknader för att tjäna snabba pengar Binära alternativ Juridiskt i Indien Coaching Under normala tider bör köpare tveka innan de gör en insättning som är större än två procent av köpeskillingen. För att tjäna snabbare pengar Nästan alla erbjudanden är nära och de allvarliga penningmängderna tillämpas på köparens betalning och stängningskostnader Många hemköpare och säljare är förvirrade om allvarliga pengar insättning Om en fastighet genererar mycket intresse kan en köpare göra en större insättning till Vissa säljare tror att om avtalet faller igenom, är det allvarliga pengar insättning Automatiskt förverkas. De flesta erbjudanden att köpa ett hus åtföljs av en check För att tjäna snabbare pengar Det här är en jättestorlek i de flesta stater och fastighetsmäklare och deras företag har ingen con Trolla över allt binärt alternativ 1 minut Som sagt säger det dock - det finns undantag från regeln Hembaserade affärsidéer i Komorerna Om något går fel mycket tidigt i affären, förstår säljaren normalt och insättningen återbetalas vanligtvis till köparen utan fuss. Best Trading Sites.24Option Trade 10 minuters Binaries. TradeRush konto Öppna ett Demo Account. Boss Capital Start Trading Live Today. His Excellence President. Christmas och New Year Message till alla säkerhetsstyrkor. På Rwanda-regeringens vägnar, min familj och min egen räkning, vill jag ta tillfället i akt och önska alla män och kvinnor i Rwanda Försvars - och säkerhetsstyrkorna och deras familjer, en lycklig jul och ett framgångsrikt nytt år 2017. Jag vill lovorda ni alla för att ni än en gång framgångsrikt har uppnått din kärnplikt att effektivt försvara Rwandas folk och territorium under hela året. Dina handlingar och hållning har bidragit avsevärt till att tillhandahålla den viktigaste tjänsten till vår nation en stabil och fredlig miljö där Alla andra aspekter av Rwanda socioekonomisk utveckling beror på. Genom 2016 har du fortsatt att förtjäna Rwandaas fulla förtroende Ingenting är viktigare. Samtidigt har din osjälviska service och professionalism bidragit till att förbättra de svåra förhållandena Olika samhällen fortsätter att möta i olika delar av vår kontinent. Långsamt men säkert har du hjälpt till att återställa hoppet var och när det var neede d mest. Officiella män och kvinnor. När vi närmar oss ett nytt år med engagerad service till Rwanda-folket har vi möjlighet att pausa och reflektera över de utmaningar och prestationer vi har upplevt under hela året, liksom motsvarande framtidsutsikter för ytterligare förbättringar. Trender som vi observerar på regionala och globala nivåer och de lärdomar vi lärde oss från vårt förflutna ser till att vi påminner oss om att Rwandas försvar och säkerhetskrafter borde vara så fokuserade, vaksamma och beslutsamma som någonsin. Kan hända när som helst och du bör alltid vara redo att reagera beslutsamt, hemma eller utomlands, för fredens och stabilitetens skull. Med tanke på att Rwanda Försvars - och säkerhetsstyrkorna fortfarande är grundläggande fördjupade disciplin, patriotism, professionalism och modighet, Jag har ingen tvekan om att du kommer att fortsätta att lyckas i ditt uppdrag. Kom alltid ihåg att en hel nation litar på och ser upp till dig som de män och kvinnor som har lovat att försvara och skydda dem under dig Niform. I dina individuella nyårsbeslut, kom ihåg att rikta en del av dina tankar och ansträngningar på vad du kan göra för att förbättra landet. Jag önskar er alla och dina familjer, en god jul och ett lyckligt och välmående nytt år. Maj Gud Välsigna er alla. Police RNP fortsatte sin livliga takt för att ytterligare säkerställa säkerheten för människor som bor i Rwanda och deras egendom och att göra det till en säkrare plats som underlättar utveckling och investeringar i omvandlingsprocessen. För att uppnå detta krävs det att man uppnår uppsatta mål och stärkande Begreppet samhällspolisering lokalt och samarbetar med lokala partners och å ena sidan att förbättra samarbetet med regional och internationell polisstyrka å andra sidan att effektivt hantera de ständigt föränderliga och framväxande säkerhetshoten som är transnationella, till stor del underlättas av porösa gränser. Alla dessa sammanfattas inom de prioriterade områdena som omfattar kapacitetsuppbyggnad, brottsförebyggande och trafiksäkerhetskampanjer, inter Nationellt samarbete, e-poliseringsbekämpningsmekanismer och infrastrukturutveckling. Den första Ladies. of Rwanda och hennes motsvarighet av Benin Claudine Talon besökte Isange One Stop Center i november. I likhet med andra år fortsatte RNP att bygga sin varierade polis kapacitet Och förmåga att träna och förvärva modernare och högteknologiska polisutrustning för att stödja olika polisdiscipliner för att ytterligare göra Rwanda säkrare för allmännyttiga polis - och brottsförebyggande åtgärder. Allmänhetskampanjer mot våld mot brott mot högkriminalitet som drogmissbruk, könsbaserat våld och barnmisshandel , människohandel och trafiksäkerhet genomfördes för att ytterligare engagera lokala samhällen för att vara aktiva i att svara på säkerhetsutmaningar som de möter i deras lokaliteter. Dessa kampanjer mot kriminalitet som förstärker begreppet samhälle utfördes också i skolor och flyktingläger. , Den andra kongressen för Rwanda Youth Volunteers i gemenskapspolisering RYVCP, som se medlemskap ökade från 14 000 till över 55 000, genomfördes och medlemmar utbildade i olika samhällspoliser och brottsdetektering, kampsäkerhet och förebyggande discipliner, för att ytterligare förbättra säkerheten och den sociala välfärden hos människor som bor i Rwanda och deras Fastighetsrepresentanter. Företrädare för det civila samhällets organisationer, studenter och olika högkvalitativa och rwandaner kom till RNP för att markera sitt 16-årsjubileum. Den 2016 veckolånga landsbygdsträningen klimatades av polisdagen 16 juni - när kraften bildades under året 2000. Kigalis-företrädare gick med i RNP och staden Kigali i en promenad för att främja säkerhet och hygien. 2016 Polisdag hölls under temat Stå upp för barnskydd Det sammanföll med markeringen av den afrikanska barndagen - en dag som är Avsatt för att fira det afrikanska barnet speciellt till minne av de barn som massakrerades i Soweto, Sydafrika för att protestera mot orättvisorna i apartheididen 1976. Föreårsdagen koncentrerades om skydd av barn på alla områden, inklusive drogmissbruk, könsbaserat våld, människohandel och trafiksäkerhet. Den sjätte upplagan av säkerhets - och hygienkampanjen, en gemensam årlig övning med staden Kigali var lika viktigt för att förbättra säkerheten och renligheten i staden. Kapacitetsbyggnaden räknar framförallt polisens professionalism, särskilt genom utbildning och förvärv av modern och högteknologisk polisutrustning. Därför förvärvades över 6000 poliser, varav cirka 100 från 12 andra länder Färdigheter inom olika polisområdena från de tre RNP-skolorna Polisutbildningskollegiet Polisutbildningsskola-Gishari och Terrorismutbildningscentret CTTC De genomförda kurserna omfattade 8: e kadetkursen av 429 officerare, inklusive 14 allierade studenter från vänliga institutioner Uganda Sydsudan och Namibia, grundläggande Polisintagsintag 12 TOT kurs i VIP-skydd, trafik och trafiksäkerhet och allmän ordning Ledning och grundläggande utredande kurs. Minister av naturresurser Drhanding över ett fordon till Remera Sector, vinnaren av den 6: e utgåvan av säkerhet och hygien. Övriga kurser omfattade två intag av CID Advanced Courses, två CID Basic kurser, övervakningskurs Police Station Befälhavare, grundläggande specialstyrka, bevakning och skydd, terrorbekämpning, rättssäkerhetsutredning, flygvetenskaplig rättsvetenskap, rättsvetenskapliga och rättsvetenskapliga polisstudier PPS. Ledda regionala akademiska och professionella kurser inkluderar 3: e intaget av Senior Command och Staff Course, underhåll och reparation av handeldvapenmärkningsmaskin och Afrikanska unionens polisförutbyggnadskurs AUPOC. Skolorna är avsedda att inte bara förbättra polisens kompetens utan även partners inom polisarbete Således har cirka 1250 partners från distriktsförvaltningsorganet DASSO, säkerhetschefer för federationen av motorcyklister, och träna tränare TTT för privata säkerhetsföretag övervakare S kurs genomfördes också vid PTS. Police Women Convention. Sjunde årliga RNP-kvinnokonventionen som samlades i februari i Kigali med närmare 700 kvinnliga poliser som diskuterades om empowerment och kompetensutveckling för att främja jämställdhet i polisen.7: e poliskonventionen. konventionen ett bra forum för att dela idéer och erfarenheter mellan kvinnliga poliser som drabbats av olika verksamhetsområden landsomfattande och få vägledning och uppmuntran från RNP: s ledarskap och partners. Röda säkerhetsstatus år 2016. Röda trafikolyckor minskade med 37 procent detta var delvis På grund av olika åtgärder som införts. Antalet fordon som importeras i Rwanda ökar med dagen samt en stor ökning av antalet rwandaner som registrerar sig för körkortsexemplar. Siffror från Rwanda Revenue Authority RRA visar att under de senaste fem åren har 85.223 bilar har importerats i genomsnitt 1420 bilar som importeras varje månad. Totalt registrerar 132 850 rwandaner också Utövas och satt för körkortstestprov i 2016 ensam av Foreign Affairs and. of Justice, och kommenderen till NPC, CP Felix Namuhoranye under symposiet. Över 700 kollektivtrafikfordon har utrustats med speed governors medan över 102 000 gick Genom inspektioner för vägverksamhet. Mobile Track Lane-banan gjorde 15 rundor över hela landet och erbjöd tjänster till över 5600 fordon medan två banor var tillagda vid MIC-motorfordonet MIC på Remera. Som en del av avdelningen utvidgning och verkställande av trafiksäkerheten, Mer än 40 nya patrullbilar, 86 motorcyklar och 86-hastighetspistolkameror fanns på vägarna. Förvärvet av högteknologiskt handhäft Terminal HHT och automatiserad nummerplattigenkänning ANPR var också i linje med RNP: s e-polisering och bekämpning av korruptionspolitik och service Leverans i synnerhet. Lansering av HHT - och ANPR-enheter. HHT-enheten ersätter det vanliga kvittotransmissionsfina kvittot, mekanisk inspektionsköer för motorfordon och processen att förvärva En körs licens. Med HHT kommer trafikförvaltare inte längre att konfiskera trafikrelaterade handlingar av gärningsmannen. Enheten skannar körkortet och gärningsmannen får ett direktmeddelande som anger brottet och böterna som kan rensas antingen genom telekommunikationsbanksystem eller VISA-betalning. Ägare kan också boka online för att kontrollera deras mekaniska status för sina bilar och kommer nu att få direktmeddelanden om var, när och tid då fordonet ska inspekteras. ANPR, som bara pekar på en kamera nummerplattorna kan känna igen om fordonet är på stopp eller önskad lista för vissa brott och kan automatiskt kontrollera fordonets giltighetskontroll, försäkring, ägare och dess krasch eller trafikbrott. Samverkan både lokalt och Gränsöverskridande, är en annan oundviklig faktor som RNP värderar vid polisiering lokalt, de kraftavtalade partnerskapsavtal med Tigo-Rwanda, ett mobiltelebolag till Gemensamt upptäcka, bekämpa och förebygga brott, inklusive korruption undertecknade MoU med åtal och medicinsk råd att samarbeta inom olika utredningsområden för att säkerställa rättvis rättvisa och en trepartsmöte med Society for Family Health SFH och Rwanda Youth Volunteers i Community Policing RYVCPO som stärker medvetenhet om säkerhet och hygien. Emmanuel K Gasana. and VD för Tigo-Rwanda. signing MoU. The årliga polis-media interaktion session också banade väg för ytterligare partnerskap i informationsutbyte och säkerställa säkerheten för rwandans. The three-day 18th Årsstämma Årsstämma i Eastern Africa Police Chiefs Samarbetsorganisation EAPCCO hölls i september med delegater som tar en hård inställning för att fördjupa samarbetet för att effektivt motverka gränsöverskridande brottslighet. Det 16: e ministerrådet utfärdat en 12-upplösningskommando som huvudsakligen roterade kring att stärka Samarbete mellan polisstyrkor för att ta itu med säkerhetsrelaterade utmaningar omen i säkerhetsorganen. I samverkan med våra sysselsäkerhetsinstitut hostade vi framgångsrikt den första någonsin Afrikakonventionen för kvinnor i säkerhetsorgan på över 250 afrikanska kvinnor från säkerhetsbyråer polis, armé och fängelsetjänster som redogör strategier för deras roll i kampen mot brott, särskilt våld Mot kvinnor och flickor och barnmissbruk. Att dra nytta av det regionala centrumet för spetskompetens mot GBV och barnmisshandel. Konventet ordfördes av premiärministern, höger Hon. was organiserade under temat Kvinnors inverkan i säkerhetshänvisande strategi kom som en realisering av den 5: e generalkonferensen i KICD hölls i Algiers-Algeriet i mars 2016. Lanseringen av Isange Book. One av resolutionerna från KICD är antagandet av Isange One Stop Center som det holistiska tillvägagångssättet mot sexuellt och könsbaserat våld. Vid genomförandet av regionala tjänster Center of Excellence, särskilt på datainsamling, Isange One Stop Center-bok med titeln Rwanda s holistisk strategi för att bekämpa Ge nderbaserad våld och barnmissbruk Isange One Stop Centre-modellen lanserades av premiärministern. Lansering av Isange Book som ministern för kön och familjemedlemskap Esperance Nyirasafari och FN-boendekoordinator. Boken dokumenterar Isange-modellen och inblandade tjänster Den ger en kortfattad sociala sammanhang som krävde ett antal ingrepp och hur lärdomarna bidrog till att informera en helhetsmekanism Det beskriver hur olika enheter bidrog till olika möjligheter och förmågor som säkerställer holistisk vård för offer för GBV och barnmisshandel. Genom detta samarbete fortsatte vi att spåra och gripa folkmord flyktingar i andra länder och deporterades till Rwanda för att försvinna medan sex fordon som hade stulits i grannländerna fanns i Rwanda och återvände till rättmätiga ägare. Interpol SG J rgen Lager bryta grunden för byggandet av den regionala cybercrime center, som IGP. Emmanuel K Gasana. The incident-free international händelser som AU-toppmötet, African Nations Championship CHAN och Tour du Rwanda är bland annat en tydlig manifestation av rollen som rwandanerna fortsätter att spela för att säkerställa och bevara säkerhet och säkerhet som landet åtnjuter. Omkring 1300 RNP-officerare tränade också i fredsbevarande över 700 genomgått FN: s fredsbevarande kurser. RNP-fredsbevarare som återvänder från FN: s uppdrag. Omkring 1000 av dem utplacerades, inklusive 820 under FPU, som ersatte samma nummer i Centralafrikanska republiken MINUSCA, Sydsudan under UNMISS och Haiti under MINUSTAH. Andra användes som Enskilda polisens IPOs Totalt 171 andra IPO med 114 av kvinnorna återvände också hem efter att ha framgångsrikt representerat sitt land och fullföljer sitt mandat. Välfärd och infrastrukturutveckling. Inaugierade RNP: s huvudkontor. Att bygga en professionell kraft betyder också moderna infrastrukturer som finns i Linje med landets utvecklingsagenda, under ledning och sup statschefens öppning HN: s huvudkontor i Kacyiru av Hans Excellence. President of Republic of Rwanda, som också tog upp polisens höga råd och utmanade officerarna att sträva efter kvalitet. Det regionala huvudkontoret för östra, norra och Södra regionerna byggdes också. Vi kan inte heller nämna den stora rollen hos allmänheten i att bygga polisens infrastruktur i sina samhällen För närvarande har nästan alla 416 sektorer över hela landet polisstation, de flesta av dem konstruerade av människorna själva. Byggandet och invigningen av Regionalt Excellenscenter, en samordningsanläggning för afrikanska säkerhetsorgan för att reagera på könsbaserat våld och barnmissbruk och grundbrytande för uppbyggandet av ett regionalt internetkriminalitetscenter för excellens hos RNP-GHQ som kommer att anslutas till Interpol cybercentraler i. och Interpol Global Complex for Innovation IGCI i Singapore är alla resu RNP-kampen mot transplantat är i linje med krafts motto för service, skydd och integritet och genomförandet av den nationella nolltoleranspolitiken Kampen mot korruption var därför en del av olika landsomfattande medvetenhetskampanjer, utredningar och gripande av synder. Konferensen om bekämpning av korruption sammankallades i december vid RNP: s generalsekretariat, som samlar andra partners, inklusive Rwanda Governance Board RGB, Ombudsmannens Riksdagsbudget NPPA, Rwanda Public Procurement Authority RPPA, Rwanda Revenue Authority och öppenhet International-Rwanda var också i den linjen. Participants följer förhandlingar under konferensen om bekämpning av korruption. Genom partnerskap med medborgarna återhämtades 6 miljarder Rwf6 i undvikna skatter, medan över 100 personer arresterades i samband med missbruk av cirka Rwf4 3 miljarder Var oaccountable för i socialt skyddsprogram mes. Close till 200 personer, var majoritetsförare också gripna för försök att bestraffa poliser, medan cirka 80 poliser var också inblandade i graftrelaterade oegentligheter. Korruption är en rödlinje för någon polis och någon som fångas i sådan avskedas från kurs och åtalades också. Tvåton poliser som var knutna till trafikavdelningen avskedades från våldet mot korruptionsrelaterade brott, fyra andra avskedades mot grov misshandel och cirka 40 personer arresterade med smidda förarlicenser. RNP, TI - Rwanda Launch Citizen Service Charter. Citizen Service Charter utvecklades i Partnerskap med Transparency International-Rwanda Chapter var ett ytterligare steg i service excellence och bekämpar korruption i synnerhet som det illustrerar rättigheterna för dem som söker polis tjänster och skyldigheter för tjänstemän att betjäna asylsökande. Barn höjer sina händer för att signalera kampen och främjandet av barnens rättigheter på polisdagen. Med den för Ce ansvarar för allmänheten bidrar charteret till att bekämpa brott som korruption och mutor i synnerhet. Det kommer att utrullas i alla polisstationer i hela landet eftersom det stavar ut tjänster som polisen erbjuder och ger medlemmar i samhället ett uttalande genom feedback. Kriminalitet ned med 12 procent. Reduktionen av brott under det senaste året med 12 procent berodde därför på alla nämnda initiativ som inbäddade under RNP: s tio viktiga polisprioriteringar. Den prisvärda rollen hos allmänheten, ungdomsfrivilliga, anti - kriminalklubbar, polisambassadörer, partnerskap med offentliga och privata institutioner inom gemenskapspolisering och gränsöverskridande samarbete fortsatte att trivas under det rättvisa och säkrare året och vidareutveckla rytmen för 2017. Under Interpols överläggning följer rekommendationen från 17: e generalförsamlingen i Eastern Africa Police Chiefs Corporation Organisation EAPCCO lyckades vi också ta hand om förfalskade och olagliga produkter includin g läkemedel, kosmetika och alkoholhaltiga drycker värderade till över Rwf140 miljoner, under operationen kodad Fagia OPSON II. c 2017 The New Times Publications SARL Alla rättigheter reserverade Tillhandahålls av SyndiGate Media Inc källa Mellanöstern Nordafrikanska tidningar. Finansiella brott rapport 2010-2011.Finansiella brott rapport 2010-2011.Finansiella brott rapporter till allmänheten. Fiskår 2010-2011 1 oktober 2009 2009 30 september 2011. Överblick och prioriteringar Federal Bureau of Investigation FBI undersöker frågor som rör bedrägeri, stöld eller förskingringar som förekommer inom eller mot det nationella och internationella finanssamhället. Dessa brott präglas av bedrägeri, dölja eller kränkning av förtroende och Är inte beroende av ansökan eller hotet om fysisk våld eller våld. Sådana handlingar begås av individer och organisationer för att få personlig eller affärsmässig fördel. FBI fokuserar sina utredningar av finansiella brottslighet på sådan brottslig verksamhet som bedrägeri, värdepapper och råvarubedrägerier, bedrägeribekämpning , Finansinstitut bedrägeri, inteckning bedrägeri, försäkringsbedrägeri, massmarknadsföring frau d och penningtvätt Dessa är de identifierade prioriterade brottsproblemområdena i FBI: s finansiella brottsavsnitt FCS. Uppdraget för FCS är att övervaka utredningen av ekonomiskt bedrägeri och för att underlätta förverkande av tillgångar från dem som deltar i federala brott . Under räkenskapsåren FY 2010-2011 var FCS bestående av den förvaltningsförverkande penningtvättenheten AF MLU, ECO, enheten för hälsovårdsbedrägeri HCFU, den rättsmedicinska revisornheten FAU, FUDU för bedrägeribekämpning och FIFU, och Financial Intelligence Center FIC. Ecu ansvarar för betydande bedrägerier riktade mot individer, företag och industrier för att inkludera företagsbedrägerier, försäkringsbedrägerier som inte är hälso - och sjukvårdsspecifika, värdepapper och råvarusvindel, t. ex. investeringsbedrägerier som Ponzi, pyramid, och avancerade avgiftssystem och värdepappersmarknadsmanipuleringssystem och massbedrägeribekämpning. HCFU övervakar undersökningar riktade mot individer och eller eller Ganizations som bedrar offentliga och privata hälso - och sjukvårdssystem Områden som undersöks inom ramen för HCFU inkluderar fakturering för tjänster som inte gjorts, fakturering för högre ersättningsbar tjänst än utförd kodning, utövande av onödiga tjänster, backbacks, uppdelning av test och tjänster för att generera högre avgifter, hållbar medicinsk utrustning DME bedrägeri, läkemedelsdisponering, övergrepp på öppenvårdssjukvård och försäljning av internetapotek. FIFU: s uppdrag är att identifiera, rikta, störa och avveckla kriminella organisationer och personer som bedriver bedrägerier som påverkar finansinstitut, särskilt inom områdena av bedrägeribekämpning och bankbrott. AF MLU: s uppdrag i samband med finansinstitutsbedrägeri FIF är att identifiera, rikta, störa och avveckla kriminella organisationer och individer genom strategisk användning av förverkande av tillgångar och för att säkerställa att fältkontor anlitar Penningtvätt brott i alla utredningar, vid behov, till en ssist in the disruption and or dismantlement of criminal enterprises. The AF MLU also has responsibilities for the management of the Forfeiture Support Project FSP in Calverton, Maryland The FSP supports the forfeiture component of all major FBI investigations through data entry and analysis of financial documents, forensic accounting, and tracing assets subject to forfeiture. The FAU was established in March 2009 to support all FBI investigative matters requiring a forensic financial investigation The FAU provides oversight of the forensic accountant FoA and financial analyst FA programs, ensuring that the FBI s financial investigative needs and priorities are continuously addressed Key to the FAU s mission is developing, managing, and enhancing the FoA and FA programs to ensure that FBI financial investigative matters are expedited with the high level of expertise required in an increasingly complex global financial system. The FIC is a proactive data exploitation unit within the FCS, c reated in September 2009 It is staffed with a cadre of intelligence analysts IA and staff operations specialists SOS The FIC provides tactical analysis of financial intelligence datasets and databases by using evolving technology and data exploitation techniques to create targeting packages to identify or enhance the most egregious criminal enterprise investigations The FIC has established liaison efforts with other government and private agencies to effectively address criminal threats through cooperative efforts These partnerships will identify additional data sources to be exploited, thereby increasing information sharing with our partners Although the FIC s primary mission is to identify criminal threats, a secondary mission is to enhance ongoing investigations which involve large numbers of subjects connected to investigations in multiple field offices. White-Collar Crime WCC National Priorities Based upon FBI field office threat strategies and directives established by the preside nt, the attorney general, the Director, and the Criminal Investigative Division CID , the following national priorities for the WCC program WCCP have been established public corruption, corporate fraud securities fraud to include Ponzi schemes , health care fraud, FIF to include bank failures and mortgage fraud , insurance fraud, money laundering, and mass marketing fraud. Although public corruption is a national priority within the WCCP, it will not be addressed in this report Each section of this report provides an overview, statistical accomplishments, and case examples of the identified priority crime problems specifically addressed by the FCS Where appropriate, suggestions are made in order to protect the public from being victimized by fraudulent activity. As the lead agency investigating corporate fraud, the FBI has focused its efforts on cases which involve accounting schemes, self-dealing by corporate executives, and obstruction of justice The majority of corporate fraud cases p ursued by the FBI involve accounting schemes designed to deceive investors, auditors, and analysts about the true financial condition of a corporation or business entity Through the manipulation of financial data, the share price, or other valuation measurements of a corporation, financial performance may remain artificially inflated based on fictitious performance indicators provided to the investing public In addition to significant financial losses to investors, corporate fraud has the potential to cause immeasurable damage to the U S economy and investor confidence. While the number of cases involving the falsification of financial information remains relatively stable, the FBI has observed an increase in the number of insider trading cases Insider trading has been a continuous threat to the fair and orderly operation of the U S financial markets and has robbed the investing public of some degree of trust that markets operate fairly The dissemination of material, non-public informat ion, commonly referred to as insider information, has also caused irreparable harm to victim institutions whose employees illegally pass privileged corporate information The FBI has worked extensively with the U S Securities and Exchange Commission SEC to target the widespread problem of insider trading which has plagued the fair and orderly operation of the securities markets. Additionally, corporate fraud matters involving self-dealing by corporate executives, particularly utilizing companies to perpetrate large-scale, high-yield fraud schemes, continue to be an issue of concern Traditionally, Ponzi schemes were perpetrated by individuals or small groups within a community environment However, the current financial crisis resulted in the exposure of several large Ponzi schemes e g Petters Worldwide investigation perpetrated not on an individual community level, but on a corporate national level by executives of what were once considered legitimate companies. The FBI continues to addres s corporate fraud cases specifically involving subprime lending institutions, brokerage houses, home-building firms, hedge funds, and financial institutions as a result of the financial crisis partly caused by the collapse of the subprime mortgage market in the fall of 2007 As a result of the current financial crisis, trillions of dollars in shareholder value were lost, several prominent companies went out of business, several prominent banks failed, and the federal government provided over a trillion dollars in relief to keep other companies from failing. A subprime mortgage lender is a business that lends to borrowers who do not qualify for loans from mainstream lenders Once the subprime loans have been issued, they are bundled and sold as securities a process known as securitization Fraud has been identified throughout the loan process, which commences with the borrower providing false information to the mortgage broker and or lender The next layer of potential fraud the corporate fr aud occurs with the banks, brokerage houses, and other financial institutions that package loans through the securitization process As the housing market declined, subprime lenders have been forced to buy back a number of nonperforming loans Many of these subprime lenders have relied on a continuous increase in real estate values to allow the borrowers to refinance or sell their properties before going into default However, based on the sales slowdown in the housing market, loan defaults increased, the secondary market for subprime securities dwindled, and the securities lost value As a result, publicly traded stocks dramatically decreased in value as financial institutions realized large losses due to the subprime securities they held or insured, resulting in financial difficulties and bankruptcies After experiencing a dramatic rise in cases during FY 2009, the number of investigations pertaining to the subprime industry has remained relatively stable during the last two years. As publ icly traded companies suffered financial difficulties due to subprime market losses, analyses of company financials have identified instances of false accounting entries and fraudulently inflated assets and revenues Investigations have determined that several of these companies manipulated their reported loan portfolio risks and used various accounting schemes to inflate their financial reports Additionally, before these companies stocks rapidly declined in value, executives with insider information sold their equity positions and profited illegally The FBI continues to coordinate with the U S Department of Justice DOJ , the SEC, and other U S law enforcement and regulatory agencies to identify and address possible corporate fraud. Corporate fraud remains one of the highest priorities in CID At the end of FY 2011, 726 corporate fraud cases were being pursued by FBI field offices throughout the United States, several of which involved losses to public investors that individually exceed 1 billion. Corporate fraud investigations involve the following activities. Falsification of financial information of public and private corporations, including. False accounting entries and or misrepresentations of financial condition. Fraudulent trades designed to inflate profit or hide losses and. Illicit transactions designed to evade regulatory oversight. Self-dealing by corporate insiders, including. Insider trading trading based on material, non-public information including, but not limited to. Corporate insiders leaking proprietary information. Attorneys involved in merger and acquisition negotiations leaking info. Matchmaking firms facilitating information leaks. Traders profiting or avoiding losses through trading and. Payoffs or bribes in exchange for leaked information. Misuse of corporate property for personal gain and. Individual tax violations related to self-dealing. Obstruction of justice designed to conceal any of the above-noted types of criminal conduct, particularly when the obstr uction impedes the inquiries of the SEC, other regulatory agencies, and or law enforcement agencies. The FBI has formed partnerships with numerous agencies to capitalize on its expertise in specific areas such as securities, tax, pensions, energy, and commodities The FBI has placed greater emphasis on investigating allegations of these frauds by working closely with the SEC, Financial Industry Regulation Authority FINRA , Internal Revenue Service IRS , Department of Labor, Federal Energy Regulatory Commission, Commodity Futures Trading Commission CFTC , U S Postal Inspection Service USPIS , and Special Inspector General for the Troubled Asset Relief Program SIGTARP , among others In September 2010, the FBI executed a memorandum of understanding with the SEC and placed a supervisory special agent within the SEC s Office of Market Intelligence in order to facilitate cooperation in a variety of financial investigations This assignment has facilitated case referrals between both agencies In addition, the FBI is an active member of the Financial Fraud Enforcement Task Force FFETF created by Presidential Executive Order in November 2009 As reflected in the statistical accomplishments of the FBI, the cooperative and multiagency investigative approach has resulted in highly successful prosecutions. The FBI has also worked with numerous organizations in the private industry to increase public awareness about combating corporate fraud, including the Public Company Accounting Oversight Board, American Institute of Certified Public Accountants, Association of Certified Fraud Examiners, and the North American Securities Administrators Association, Inc These organizations have been able to provide referrals for expert witnesses and other technical assistance regarding accounting and securities issues In addition, the Financial Crimes Enforcement Network and Dun Bradstreet have been able to provide significant background information on subject individuals and or subject companies to further investigative efforts. During FY 2011, cases pursued by the FBI resulted in 242 indictments informations and 241 convictions of corporate criminals Numerous cases are pending plea agreements and trials During FY 2011, the FBI secured 2 4 billion in restitution orders and 16 1 million in fines from corporate criminals The chart below reflects corporate fraud pending cases from FY 2007 through FY 2011.Beazer Homes Charlotte A subprime-related corporate fraud investigation conducted by the Charlotte Field Office recently culminated in the trial conviction of the former chief accounting officer of Beazer Homes USA Beazer Executives at Beazer, a former Fortune 500 company located in Charlotte, North Carolina, encouraged the use of false information to finance and sell homes and to manipulate corporate earnings to meet specific goals This manipulation of earnings, referred to as cookie jar accounting, allowed Beazer to reduce its net income during strong financial periods and provide it with excess balances and reserves, allowing it to smooth earnings during times of underperformance On July 1, 2009, Beazer entered into a deferred prosecution agreement DPA acknowledging corporate culpability in this complex fraud scheme As part of the DPA, Beazer agreed to pay restitution of 50 million and continued to cooperate with the government s criminal investigation of former Beazer executives On October 28, 2011, Michael Rand, the former chief accounting officer of Beazer, was convicted on seven of 11 counts after a three-week trial Sentencing is planned for 2012.Colonial Bank and Taylor, Bean Whitaker Washington, D C Another notable success was the sentencing of multiple executives from Colonial Bank and Taylor, Bean Whitaker TBW The Washington Field Office investigated a subprime-related conspiracy committed by senior executives at Colonial Bank and TBW, a major U S mortgage originator, who conducted a several-billion-dollar accounting fraud through back-dating of loans and the creation of fictitious loans which inflated loan asset values Additionally, Colonial Bank fraudulently sought to acquire 553 million in TARP funds, which was prevented by the FBI in conjunction with the SIGTARP In August 2009, TBW closed after it could no longer issue government-backed loans In August 2009, the Alabama State Banking Department closed Colonial Bank due to liquidity problems The failure of Colonial Bank represents the sixth - largest bank failure since the creation of the Federal Deposit Insurance Corporation FDIC Colonial Bank s former senior vice president, Cathy Kissick, and TBW chief executive officer Paul Allen pled guilty and, in June 2011, were sentenced to eight years and 40 months in prison, respectively In April 2011, after a 10-day trial, a jury found former TBW chairman Lee Farkas guilty on 14 counts of bank fraud, wire fraud, and securities fraud Farkas was later sentenced to 30 years imprisonment. Galleon Group New York The New York Field Office condu cted multiple investigations into insider trading Targets of this investigation included Wall Street analysts and insiders, lawyers, hedge fund analysts and traders, company insiders, and professional consulting firms Insiders from corporations such as McKinsey Company, International Business Machines, Advanced Micro Devices, and Goldman Sachs have been charged for the unauthorized release of proprietary corporate information The most prominent individual convicted in the investigation to date is Raj Rajaratnam, the founder of the 7 billion Galleon Group hedge fund Mr Rajaratnam was convicted in May 2011 by a federal jury on all 14 counts he faced pertaining to his insider trading activity and was subsequently sentenced to 11 years imprisonment This investigation has shown the FBI s propensity to use all tools available at its discretion, including Title IIIs, to combat financial crimes As of September 30, 2011, 48 convictions have been obtained in this wide-ranging FBI probe into illi cit insider trading activity on Wall Street and in the boardrooms across the United States. The continued uncertainty and volatility of today s financial markets could be measured by the Dow Jones Industrial Average movement from 12,681 on July 22, 2011, to 10,655 on October 3, 2011 As a result of such tumultuous markets, the FBI witnessed a steady rise in securities and commodities frauds as investors sought alternative investment opportunities With the development of new schemes and trends such as securities market manipulation via cyber intrusion, the increase in commodities fraud, the continued rise of Ponzi schemes, and foreign-based reverse merger market manipulation schemes securities and commodities fraud is on the rise Since 2008, securities and commodities fraud investigations have increased by 52 percent, and the FBI currently has over 1,800 pending investigations During this period, the losses associated with these types of schemes have increased to billions of dollars The l osses are associated with depreciative market value of businesses, reduced or nonexistent return on investments, and legal and investigative costs The victims of securities and commodities frauds include individual investors, financial institutions, public and private companies, government entities, pension funds, and retirement funds. The continuing integration of global capital markets has created unprecedented opportunities for U S businesses to access capital and investors to diversify their portfolios Whether through individual brokerage accounts, college savings plans, or retirement accounts e g 401k plans , more and more Americans are choosing to invest in the U S securities and commodities markets This growth has led to a corresponding growth in the amount of fraud and misconduct seen in these markets The creation of complex investment vehicles and the tremendous increase in the amount of money being invested have created greater opportunities for individuals and businesses to p erpetrate fraudulent investment schemes The recent financial crisis led to the identification of numerous investment fraud schemes, many of which were Ponzi schemes The number of investment frauds continues to grow as investors remain susceptible in the current uncertainty of the global economy The securities and commodities frauds being investigated include market manipulation, investment frauds, and miscellaneous matters such as broker embezzlement In response to this growing threat, the FBI has increased the number of agents addressing it by 61 percent, an increase of approximately 91 agents since 2008.Additionally, the FBI works closely with various governmental and private entities to investigate and prevent fraudulent activity in the financial markets In an effort to optimize workforce needs, many FBI field offices operate task forces and working groups with other law enforcement and regulatory agencies These agencies include the SEC, U S Attorney s Offices USAO , CFTC, FINRA, US PIS, and the IRS, among others, serving as force multipliers to more effectively address the securities and commodities fraud threat Nationally, the FBI participates in several working groups and task forces such as the FFETF The FFETF was established by President Obama to coordinate the efforts of the DOJ at all levels of government to disrupt and dismantle significant large-scale criminal enterprises. Valuable partnerships have been instrumental in orchestrating national financial crimes takedowns, or sweeps, during the last few years By coordinating fraud cases into a nationwide takedown, the FBI and its partners have raised public awareness of its enforcement efforts and deterred future fraud Operation Broken Trust OBT was a multi-agency national initiative which coordinated the efforts of government agencies against various securities fraud threats OBT featured criminal, civil, and community outreach components The sweep targeted individuals and companies who engaged in criminal an d civil securities fraud which occurred sometime from August 16, 2010 through December 1, 2010 For the criminal component coordinated by the FBI, this included arrests, complaints, informations indictments, convictions, sentences, and seizures forfeitures The focus of the sweep was schemes to defraud individual investors, affinity fraud, prime bank fraud, commodities frauds, and market manipulation cases such as pump and dump schemes. On December 6, 2010, the FFETF-Securities Fraud Working Group held a national press conference to announce the conclusion of OBT U S Attorney General Eric Holder gave remarks on behalf of DOJ In coordination with the national press conference, local press conferences were held across the country by U S attorneys participating in the operation The operation involved 343 criminal defendants nationwide and more than 120,000 victims with losses attributable to alleged criminal activity of more than 8 billion. The following are the most prevalent types of securi ties and commodities fraud. Investment Fraud These schemes, sometimes referred to as high yield investment fraud, involve the illegal sale or purported sale of financial instruments Financial instruments are defined broadly as any contract that gives rise to a financial asset of one entity and a financial liability or equity instrument to another entity These instruments can be a tradable asset of any kind, to include registered securities and commodities and unregistered securities e g a simple promissory note between the fraudster and his her victim investors Schemes take on many forms, and perpetrators quickly alter schemes as they are thwarted by law enforcement The typical investment fraud schemes are characterized by offers of low - or no-risk investments, guaranteed returns, overly consistent returns, complex strategies, or unregistered securities These schemes often seek to victimize affinity groups such as groups with a common religion or ethnicity to utilize the common interest s to build trust to effectively operate the investment fraud against them The perpetrators range from professional investment advisers and hedge funds to those trusted and interacted with daily, such as a neighbor or sports coach The fraudster s ability to foster trust makes these schemes so successful, and investors should use scrutiny and gather as much information as possible before entering into any new investment opportunities Investors can find background information on registered investment advisers at and registered brokers and brokerage firms at The following are additional definitions of the most common investment fraud scheme variations. Ponzi Schemes A Ponzi scheme is an investment fraud that involves the payment of purported returns to existing investors from funds contributed by new investors Ponzi schemes often share common characteristics, such as offering overly consistent returns, unregistered investments, high returns with little or no risk, or secretive or complex st rategies This arrangement gives investors the impression there is a legitimate, money-making enterprise behind the subject s story, but in reality, unwitting investors are the only source of funding. Affinity Fraud Perpetrators of affinity fraud take advantage of the tendency of people to trust others with whom they share similarities such as religion or ethnic identity to gain their trust and money. Pyramid Schemes In pyramid schemes, as in Ponzi schemes, money collected from new participants is paid to earlier participants In pyramid schemes, however, participants receive commissions for recruiting new participants into the scheme. Prime Bank Investment Fraud In these schemes, perpetrators claim to have access to a secret trading program endorsed by large financial institutions such as the Federal Reserve Bank, Treasury Department, World Bank, International Monetary Fund, etc Perpetrators often claim the unusually high rates of return and low risk are the result of a worldwide secret ex change open only to the world s largest financial institutions Victims are often drawn into prime bank investment frauds because the criminals use sophisticated terms, legal-looking documents, and claim the investments are insured against loss. Advance Fee Fraud Advance fee schemes require victims to advance relatively small sums of money in the hope of realizing much larger gains Not all advance fee schemes are investment frauds In those that are, however, victims are told that in order to have the opportunity to be an investor in an initial offering of a promising security, investment or commodity, etc , the victim must first send funds to cover taxes or processing fees, etc. Promissory Notes These are generally short-term debt instruments issued by little-known or nonexistent companies The notes typically promise high returns with little or no risk and are typically not registered as securities with the appropriate regulatory agencymodities Fraud Commodities fraud is the sale or purpo rted sale of a commodity through illegal means Commodities are raw materials or semi-finished goods that are relatively uniform in nature and are sold on an exchange e g gold, pork bellies, orange juice, and coffee Most commodities frauds involve illicit marketing or trading in commodities futures or options Perpetrators often offer investment opportunities in the commodities markets that falsely promise high rates of return with little or no risk Two common types of commodities investment frauds include. Foreign Currency Exchange Forex Fraud The perpetrators of Forex frauds entice individuals into investing in the spot foreign currency market through false claims and high-pressure sales tactics Foreign currency firms that engage in this type of fraud invest client funds into the Forex market not with the intent to conduct a profitable trade for the client, but merely to churn the client s account Churning creates large commission charges benefiting the trading firm In other Forex fraud s, the perpetrator creates artificial account statements that reflect purported investments when, in reality, no such investments have been made Instead, the money has been diverted for the perpetrator s personal use. Precious Metals Fraud These fraud schemes offer investment opportunities in metals commodities such as rare earth, gold, and silver The perpetrators of precious metals frauds entice individuals into investing in the commodity through false claims and high-pressure sales tactics Oftentimes in these frauds, the perpetrators create artificial account statements that reflect purported investments when, in reality, no such investments have been made Instead, the money has been diverted for the perpetrators personal use. Market Manipulation These schemes, commonly referred to as pump-and-dumps, are effected by creating artificial buying pressure for a targeted security, generally a low-trading volume issuer in the over-the-counter securities market that is largely controlled by t he fraud perpetrators This artificially increased trading volume has the effect of artificially increasing the price of the targeted security i e the pump , which is rapidly sold off into the inflated market for the security by the fraud perpetrators i e the dump These actions result in illicit gains to the perpetrators and losses to innocent third-party investors Typically, the increased trading volume is generated by inducing unwitting investors to purchase shares of the targeted security through false or deceptive sales practices and or public information releases. A modern variation on these schemes involves largely foreign-based computer criminals gaining unauthorized access and intruding into the online brokerage accounts of unsuspecting victims in the United States These intruded victim accounts are then used to engage in coordinated online purchases of the targeted security to affect manipulation while the fraud perpetrators sell their preexisting holdings in the targeted securi ty into the inflated market. Broker Embezzlement These schemes involve illicit and unauthorized actions by brokers to steal directly from their clients Such schemes may be facilitated by the forging of client documents, doctoring of account statements, unauthorized trading funds transfer activities, or other conduct in breach of the broker s fiduciary responsibilities to the victim client. Late-Day Trading These schemes involve the illicit purchase and sale of securities after regular market hours Such trading is restricted in order to prevent individuals from profiting on market-moving information which is released after the close of regular trading Unscrupulous traders attempt to illegally exploit such opportunities by buying or selling securities at the market close price, secure in the knowledge that the market-moving information will generate illicit profits at the opening of trading on the following day. As of the end of FY 2011, the FBI was investigating 1,846 cases of securities a nd commodities fraud and had recorded 520 indictments informations and 394 convictions against this criminal threat Additional notable accomplishments in FY 2011 include 8 8 billion in restitution orders 36 million in recoveries 113 million in fines and 751 million in forfeitures The chart below reflects securities and commodities fraud pending cases from FY 2007 through FY 2011.Joseph Blimline, Provident Royalties Dallas This investigation centered on Joseph Blimline, who orchestrated one of North Texas largest oil and gas investment Ponzi schemes, defrauding 7,700 investors of over 485 million Beginning in 2006, Blimline and others involved at Provident Royalties made false representations and failed to disclose other material facts to their investors The investors were not told that Blimeline had received millions of dollars in unsecured loans and had been previously charged with securities fraud Blimline issued approximately 20 oil and gas offerings, raising over several hundred mi llion dollars from investors Blimline used a significant amount of the money raised in these offerings to purchase oil and gas assets from earlier offerings and to pay dividends to earlier investors to facilitate the scheme On August 31, 2010, Blimline pled guilty to an information Blimline is awaiting sentencing in January 2012.A O Entities Richmond A O originally sold fractionalized, no-risk interests in life insurance policies, primarily to elderly investors, with promised rates of return from 9-15 percent A O bank accounts were under the control of the owners of A O, who diverted more than 50 million for their personal benefit On September 27, 2011, co-conspirator Chris Allmendinger was sentenced to 45 years imprisonment for his role in the scheme On September 28, 2011, Adley Adulwahab was sentenced to 60 years imprisonment, which is the second-longest white-collar criminal sentence in the history of the Eastern District of Virginia As of September 30, 2011, seven subjects have bee n sentenced to federal prison terms ranging from three years to 60 years for their roles in this Ponzi scheme, which bilked more than 800 investors out of more than 100 million This case was investigated jointly with the Virginia Financial and Securities Fraud Task Force. Nicholas Cosmo New York Nicholas Cosmo was the owner and president of Agape World, Inc and Agape Merchant Advance LLC AMA Cosmo, through Agape and AMA, solicited money from investors purportedly to provide bridge loans to companies Cosmo and his sales force promised investors returns of 12 to 15 percent per month The investor funds were ultimately used to pay Cosmo s personal expenses, pay back previous investors, and speculate in future contracts In April 2009, Nicholas Cosmo was indicted on charges of mail fraud in connection with operating a several-hundred-million-dollar Ponzi scheme On October 14, 2011, Cosmo was sentenced to 25 years in prison He was also ordered to pay 179 million in restitution to more than 4,0 00 victims and agreed to an asset forfeiture judgment in the amount of 409,305,000 as part of his sentence. The FBI s mission in health care fraud HCF is to oversee the FBI s HCF initiatives by providing national guidance and assistance to support HCF investigations targeting individuals and organizations who are defrauding the public and private health care systems The FBI works closely with its federal, state, and local law enforcement partners the Centers for Medicare and Medicaid Services CMS and other government and privately sponsored program participants to address vulnerabilities, fraud, and abuse. All health care programs are subject to fraud however, Medicare and Medicaid programs are the most visible Estimates of fraudulent billings to health care programs, both public and private, are estimated between 3 and 10 percent of total health care expenditures The fraud schemes are not specific to any area, but they are found throughout the entire country The schemes target large he alth care programs, public and private, as well as beneficiaries Certain schemes tend to be worked more often in certain geographical areas, and certain ethnic or national groups tend to also employ the same fraud schemes The fraud schemes have, over time, become more sophisticated and complex and are now being perpetrated by more organized crime groups. Emerging Trends and Projections HCF is expected to continue to rise as people live longer This increase will produce a greater demand for Medicare benefits As a result, it is expected that the utilization of long - and short-term care facilities such as skilled nursing, assisted living, and hospice services will expand substantially in the future Additionally, fraudulent billings and medically unnecessary services billed to health care insurers are prevalent throughout the country These activities are becoming increasingly complex and can be perpetrated by corporate-driven schemes and systematic abuse by providers. The most recent CMS sta tistical estimates project that total health care expenditures are estimated to total 2 4 trillion, representing 14 percent of the gross domestic product GDP By the year 2016, CMS estimates total health care spending to exceed 4 14 trillion, representing 19 6 percent of the GDP. With health care expenditures consistently increasing, it is especially important to coordinate all investigative efforts to combat fraud within the health care system The FBI is the primary investigative agency in the fight against HCF and has jurisdiction over both the federal and private insurance programs With more than 1 trillion being spent in the private sector on health care and its related services, the FBI s efforts are crucial to the success of the overall program The FBI leverages its resources in both the private and public arenas through investigative partnerships with agencies such as the Health and Human Services-Office of Inspector General HHS-OIG , the Food and Drug Administration FDA , Drug En forcement Administration, Defense Criminal Investigative Service, Office of Personnel Management, IRS-CID, and various state and local agencies On the private side, the FBI is actively involved with national groups such as the National Health Care Anti-Fraud Association and the National Insurance Crime Bureau NICB , as well as many other professional and grassroots efforts to expose and investigate fraud within the system. Collaboration In furtherance of the FBI s efforts to combat HCF in the United States, the FBI participates in various initiatives with federal, state, and local agencies At the Headquarters level, the FBI participates in a senior level working group which includes the CMS, DOJ, HHS-OIG, and other agencies to identify and assess health care industry vulnerabilities and make recommendations to protect the industry and the public through a coordinated effort At the Headquarters level, the FBI is also involved in coordination meetings at the DOJ which include various DOJ components involved in the fight against HCF National-level liaison is also maintained with federal law enforcement agencies, the National Association of Medicaid Fraud Control Units, and other partners. Throughout the country, FBI field offices participate in HCF working groups which involve law enforcement agencies, prosecutors, regulatory agencies, and health insurance industry professionals to identify the various crime problems involving HCF The FBI develops national and local initiatives when large-scale fraud is detected, which may involve participation by several FBI field offices and other law enforcement agencies. During the past year, the FBI continued to identify and analyze industry fraud trends through input from private and public health care program experts Present areas of concern include DME hospital fraud physician fraud home health agencies beneficiary-sharing chiropractic, pain management, and associated drug diversion physical therapists prescription drugs multidisc iplinary fraud and identity theft which involves physician identifiers used to fraudulently bill government and private insurance programs. As part of our national strategy to address HCF, the FBI cooperates with the DOJ and the various USAOs throughout the country to pursue offenders through parallel criminal and civil remedies These cases typically target large-scale medical providers, such as hospitals and corporations, who engage in criminal activity and commit fraud against the government which undermines the credibility of the health care system As a result, a great deal of emphasis is placed on recovering the illegal proceeds through seizure and forfeiture proceedings as well as substantial civil settlements Upon the successful conviction of HCF offenders, the FBI provides assistance to various regulatory and state agencies, which may seek exclusion of convicted medical providers from further participation in the Medicare and Medicaid health care systems. Data Mining Techniques Th e FBI and the health care industry continue to expand their technology and intelligence assessments through the use of sophisticated data-mining techniques to identify patterns of fraud, systemic weaknesses, and aberrant billing activity. In 2005, the FCS developed the Electronic Bank Records Initiative EBRI The EBRI was implemented to identify and develop a process for obtaining electronic digital format records from financial institutions Historically, financial institutions have provided paper copies of records to law enforcement when they receive a subpoena from the government These records are generally maintained by the banks in an electronic format The time it takes the financial institution to make the copies of the records and for the investigative agencies to return the paper copies back to an electronic format for financial analysis creates a severe negative effect on the timeliness, effectiveness, and efficiency of investigations In an effort to increase the efficiency of th e process, a subpoena attachment was developed by the DOJ, FBI, and IRS-CID for the production of electronic records instead of paper copies The development included significant coordination with the financial institutions and their associations The subpoena attachment was not based upon new or expanded laws, regulations, or rules The attachment is merely meant to standardize and clarify the requests for electronic records according to the current federal rules of criminal and civil procedure In general terms, if a financial institution maintains records electronically, the requesting agency would be seeking to obtain the records electronically In addition, the scope of the records requested has not changed due to the subpoena attachment, with the exception of seeking the records electronically. The subpoena attachment was disseminated to FBI offices, IRS offices, and throughout the DOJ in November 2007 The goal of the DOJ, FBI, and IRS-CID is to inform and prepare financial institution s and their respective agencies for the use and response to the subpoena attachment This includes working with financial institutions during the transition period in coordinating the requests and associated responses to subpoenas In addition, it is anticipated the EBRI will greatly increase the efficiency of the financial records production process and provide significant costs savings to both the government and private industry. Through FY 2011, 2,690 cases investigated by the FBI resulted in 1,676 informations indictments and 736 convictions of HCF criminals It should be noted that numerous cases are pending plea agreements and trials The following notable statistical accomplishments are reflective in FY 2011 for HCF 1 2 billion in restitutions 1 billion in fines 96 million in seizures 320 million in civil restitution and over 1 billion in civil settlements The chart below reflects HCF pending cases from FY 2007 through FY 2011.Glaxosmithkline GSK San Juan Drugs manufactured at the GS K plant located in Cidra, Puerto Rico were not safe and or effective and, therefore, claims for payment of prescription drugs made by GSK to Medicare, state Medicaid programs, and other state and federal purchasers of prescription drugs were false or fraudulent GSK is accused of distributing reject drug product to the U S market and submitting false claims for drug products that were not safe and or effective Drugs affected include, but are not limited to, Avandamet, Coreg, Bactroban, Abreva, Cimetidine, and Kytril GSK allegedly lied to the FDA in order to conceal those violations GSK s violations of current good manufacturing practices include, but are not limited to, product mix-ups inadequate investigation of out-of-specification results detected during laboratory testing inadequate process validation and equipment calibration and substandard quality and control of the plant s water systems, resulting in microbial contamination of drug products On December 26, 2010, GSK pled guilty to charges relating to the manufacture and distribution of certain adulterated drugs A 600 million civil settlement under the False Claims Act was agreed upon in addition to 150 million in criminal fines and forfeiture. American Therapeutic Corporation Miami This matter was initiated by a civil qui tam filed unsealed by a relator The investigation into American Therapeutic Corporation ATC addressed an identified threat of community mental health center fraud within South Florida ATC has been identified as the largest community medical health center CMHC in Florida, and its owners and operators of facilities have submitted approximately 205 million in fraudulent claims to Medicare, with approximately 85 million being reimbursed ATC owners allegedly have been engaged in widespread fraud and have paid kickbacks to assisted living facilities in order to recruit patients for unnecessary group therapy programs and partial hospitalization programs This investigation has brought greater awarene ss to the fraud and abuse of CMHCs within South Florida Payments to ATC have been suspended, thereby protecting the federal trust fund for Medicare On September 16, 2011, owner Lawrence Duran was sentenced to 50 years in prison and restitution of 87,533,863 On September 19, 2011, owner Marianella Valera was sentenced to 35 years in prison and restitution of 87,533,863 Over 20 defendants were indicted and arrested as part of the investigation, which was worked jointly by FBI Miami and HHS-OIG, along with trial attorneys from DOJ. HCF is carried out by many segments of the health care system using various methods Some of the most prevalent schemes include. Billing for Services not Rendered These schemes can have several meanings and could include any of the following. No medical service of any kind was rendered. The service was not rendered as described in the claim for payment. The service was previously billed and the claim had been paid. Upcoding of Services This type of scheme involves a b illing practice where the health care provider submits a bill using a procedure code that yields a higher payment than the code for the service that was truly rendered The upcoding of services varies according to the provider type Examples of service upcoding include. A routine, follow-up doctor s office visit being billed as an initial or comprehensive office visit. Group therapy being billed as individual therapy. Unilateral procedures being billed as bilateral procedures.30-minute sessions being billed as 50 minute sessions. Upcoding of Items A medical supplier is upcoding when, for example, the supplier delivers to the patient a basic, manually propelled wheelchair, but bills the patient s health insurance plan for a more expensive motorized version of the wheelchair. Duplicate Claims A duplicate claim usually involves a certain item or service for which two claims are filed In this scheme, an exact copy of the claim is not filed a second time rather, the provider usually changes a port ion, most often the date of service on the claim, so that the health insurer will not realize the claim is a duplicate In other words, the exact claim is not filed twice, but one service is billed two times, in an attempt to be paid twice for one service. Unbundling This is the practice of submitting bills in a fragmented fashion in order to maximize the reimbursement for various tests or procedures that are required to be billed together at a reduced cost For example, clinical laboratory tests may be ordered individually, or in a panel i e a lipid panel, an arthritis panel, a hepatitis panel Billing tests within each panel as though they were done individually on subsequent days is an example of unbundling. Excessive Services These schemes typically involve the provision of medical services or items which are in excess of the patient s actual needs Examples of excessive services include. A medical supply company delivering and billing for 30 wound care kits per week for a nursing home pa tient who only requires a change of dressings once per day. Daily medical office visits conducted and billed for when monthly office visits would be more than adequate. Medically Unnecessary Services A service is medically unnecessary and may give rise to a fraudulent scheme when the service is not justified by the patient s medical condition or diagnosis For example, a claim for payment for an electrocardiogram test may be fraudulent if the patient has no conditions, complaints, or factors which would necessitate the test. Kickbacks A health care provider or other person engages in an illegal kickback scheme when he or she offers, solicits, pays, or accepts money, or something of value, in exchange for the referral of a patient for health care services that may be paid for by Medicare or Medicaid A laboratory owner and doctor each violate the Anti-Kickback Statute when the laboratory owner pays the doctor 50 for each Medicare patient a doctor sends to the laboratory for testing Although kickbacks are often paid in cash based on a percentage of the amount paid by Medicare or Medicaid for a service, kickbacks may take other forms such as jewelry, free paid vacations, or other valuable items. Health Care Fraud Prevention Measures. HCF is not a victimless crime It increases health care costs for everyone It is as dangerous as identity theft Fraud has left many thousands of people injured Participation in HCF is a crime. Keeping America s health system free from fraud requires active participation from each of us The large number of patients, treatments, and complex billing practices attracts criminals skilled in victimizing innocent people by committing fraud. What is Health Care Fraud. Altered or fabricated medical bills and other documents. Excessive or unnecessary treatments. Billing schemes, such as. charging for a service more expensive than the one provided. charging for services that were not provided. duplicate charges. False or exaggerated medical disability. Collecting on m ultiple policies for the same illness or injury. Tips to Protect Yourself Against Health Care Fraud. Protect your health insurance information card like a credit card. Beware of free services is it too good to be true. Review your medical bills, such as your explanation of benefits, after receiving health care services Check to ensure the dates and services are correct to ensure you get what you paid for. If you suspect HCF, contact your insurance company You can also contact your local FBI field office and or the local Department of HHS-OIG Office. The mission of the Financial Institution Fraud Unit FIFU is to oversee the investigation of financial industry fraud schemes perpetrated by individuals, as well as criminal organizations, which target our nation s financial institutions. The FIFU protects the public s interest by educating individuals and businesses about pervasive financial industry fraud schemes working closely with federal, state, and local law enforcement agencies and maintain ing liaison contacts with our regulatory and industry partners In addition, the FIFU obtains relevant intelligence data to prepare proactive strategies to neutralize current and emerging financial threats The FIFU has oversight responsibilities of the mortgage fraud, financial institution fraud, credit card fraud, and bankruptcy fraud subprograms. In 2011, mortgage loan originations were at their lowest levels since 2001 This can be partially attributed to tighter underwriting standards following the financial crisis This decrease in loan originations has resulted in a corresponding decrease in new loan origination fraud investigations Foreclosures and delinquencies, on the other hand, have skyrocketed over the past few years, with a corresponding increase in mortgage fraud schemes aimed at distressed homeowners For the first time in recent history, distressed homeowner fraud has displaced loan origination fraud as the number one mortgage fraud threat in many offices Though the FBI cons iders loan origination fraud to be the most egregious type of mortgage fraud because of the high dollar losses attendant therewith, the FBI has now adapted its focus to include other new and emerging schemes. Mortgage fraud schemes employ some type of material misstatement, misrepresentation, or omission relating to a real estate transaction which is relied on by one or more parties to the transaction These schemes include. Foreclosure rescue schemes. Loan modification schemes. Illegal property flipping. Builder bailout condo conversion. Equity skimming. Silent second. Home equity conversion mortgagemercial real estate loans. Mortgage fraud is a part of the FIF subprogram within the FBI s WCCP The FBI investigates mortgage fraud in two distinct areas fraud for profit and fraud for housing Those who commit mortgage fraud for profit are often industry insiders using their specialized knowledge or authority to commit or facilitate the fraud Current investigations and widespread reporting indicate a high percentage of mortgage fraud involves collusion by industry insiders, such as bank officers, appraisers, mortgage brokers, attorneys, loan originators, and other professionals engaged in the industry Fraud for housing typically represents illegal actions conducted solely by the borrower, who is motivated to acquire and maintain ownership of a house under false pretenses such as misrepresented income and asset information on a loan application. One of the ways the FBI becomes aware of mortgage fraud is through the analysis of suspicious activity reports SARs , which are filed by federally insured financial institutions Mortgage fraud SARs have increased from 6,936 in FY 2003 to 93,508 in FY 2011 These SARs provide valuable intelligence in mortgage fraud trends and can lead to the initiation of mortgage fraud cases as well as the enhancement of current FBI investigations. Note Of those SARs that report a dollar loss, approximately 82 percent do not contain a dollar loss amount. FBI R esponse With elevated levels of mortgage fraud, the FBI has continued to dedicate significant resources to the threat The FBI has increased the number of agents who investigate mortgage fraud cases from 120 special agents in FY 2007 to 325 special agents in FY 2011 FBI pending mortgage fraud cases have increased from 1,199 in FY 2007 to 2,691 in FY 2011, with a peak of 3,129 in FY 2010.The FBI employs advanced and or sophisticated investigative techniques, such as undercover operations and wiretaps, which result in the collection of valuable evidence and provide an opportunity to apprehend criminals in the commission of their crimes This ultimately reduces the losses to individuals and financial institutions The FBI has also instituted several intelligence initiatives to support mortgage fraud investigations and has improved law enforcement and industry relationships The FBI has established methodology to proactively identify potential mortgage fraud targets using tactical analysis cou pled with advanced statistical correlations and computer technologies. In September 2009, the FBI established the FIC to provide tactical analysis of intelligence datasets and financial databases The FIC uses evolving technology and data exploitation techniques to create targeting packages to identify the most egregious criminal enterprises and to enhance current criminal investigations The FIC has worked jointly with the FIFU to assist the field offices by creating mortgage fraud targeting packages. The FBI continues to enhance liaison partnerships within the mortgage industry and law enforcement to promote mortgage fraud awareness and share intelligence As part of the effort to address mortgage fraud, the FBI continues to support 25 mortgage fraud task forces and 67 working groups The FBI also participates in the DOJ National Mortgage Fraud and National Bank Fraud Working Groups, as well as the FFETF The FFETF s mission is to enhance the government s effectiveness in sharing informatio n to help prevent and combat financial fraud FBI personnel routinely participate in various mortgage industry conferences and seminars, including those sponsored by the Mortgage Bankers Association MBA Collaborative educational efforts are ongoing to raise public awareness of mortgage fraud schemes through the publication of the annual Mortgage Fraud Report and this report, and through the dissemination of information jointly or between various industry and consumer organizations Analytic products are routinely distributed to a wide audience, including public and private sector industry partners, the intelligence community, and other federal, state, and local law enforcement partners. In June 2010, Operation Stolen Dreams was the largest collective enforcement effort ever brought to bear in confronting mortgage fraud This FIFU-led initiative involved 1,517 criminal defendants nationwide, who were allegedly responsible for more than 3 billion in losses Additionally, the operation resulte d in 191 civil enforcement actions and the recovery of more than 196 million. The FBI remains committed to its responsibility to aggressively investigate mortgage fraud, as well as engage with the mortgage industry in identifying fraud trends and educating the public To maximize current resources, the FBI is relying on intelligence collection and analysis to identify emerging trends and egregious offenders and strong relationships with law enforcement and regulatory agency partners to disrupt and dismantle the criminal organizations and individuals engaging in these fraud schemes. Through FY 2011, FBI investigations resulted in 1,223 informations and indictments and 1,082 convictions of mortgage fraud criminals The following notable statistical accomplishments are reflective in FY 2011 for mortgage fraud 1 38 billion in restitutions 116 3 million in fines seizures valued at 15 7 million and 7 33 million in forfeitures. Luis Belevan, The Guardian Group, LLC Phoenix Luis Belevan pled guilty in federal court to conspiring to commit wire fraud and mail fraud during the period of 2009 to 2010 Belevan and his co-conspirator were charged with defrauding at least 1,800 local distressed homeowners out of a 1,595 upfront fee for bogus promises of assistance in avoiding home foreclosure Belevan used false promises on the company s website to convince consumers that it could help them save their home if the homeowner paid an upfront fee The homeowners were never helped, and they were scammed out of their hard-earned money Belevan generated almost 3 million in funds in just nine months, which he and others used for personal expenses and for other failed ventures. Howard Shmuckler, The Shmuckler Group Washington, D C From 2009 to 2010, Howard Shmuckler owned and operated a mortgage-rescue business known as The Shmuckler Group TSG , which claimed to be the largest, most successful group of professionals coming together to help home owners keep their homes in a manageable and affordabl e manner Operating his business at various times in McLean and Vienna, Virginia, Shmuckler is accused of misrepresenting that TSG had a success rate of 97 percent and falsely portraying himself as an attorney licensed in Virginia Based on these false representations, clients paid fees ranging from 2,500 to 25,000 to modify the terms of their mortgages Shmuckler was indicted and is awaiting trial, currently scheduled for early 2012 This case was jointly investigated by the FBI, FDIC-OIG, and SIGTARP. Carl Cole David Crisp Sacramento In January 2011, a 56-count indictment was returned against 10 subjects for their roles in a large-scale loan origination scheme The scheme included approximately 140 fraudulent mortgage transactions on 108 properties with loans totaling 142 million This investigation was initiated in December 2006 Carl Cole and David Crisp, partners in Crisp and Cole Real Estate CCRE , utilized CCRE to orchestrate an extensive loan origination mortgage fraud scheme The schem e involved several mortgage brokers, appraisers, realtors, loan officers, certified public accountants, bank financial institution employees, straw buyers, title companies, and builders. Mortgage Fraud Schemes and Trends. Foreclosure Rescue Schemes The perpetrators identify homeowners who are in foreclosure or at risk of defaulting on their mortgage loan The perpetrators then mislead the homeowners into believing they can save their homes by transferring the deed or putting the property in the name of an investor The perpetrators profit by selling the property to an investor or straw borrower, creating equity using a fraudulent appraisal, and stealing the seller proceeds or fees paid by the homeowners The homeowners are sometimes told they can pay rent for at least a year and repurchase the property once their credit has been reestablished However, the perpetrators fail to make the mortgage payments and usually the property goes into foreclosure. Loan Modification Schemes Scammers purport to assist homeowners who are delinquent in their mortgage payments and are on the verge of losing their home by offering to renegotiate the terms of the homeowners loan with the lender The scammers, however, demand large fees up front and often negotiate unfavorable terms for the clients, or do not negotiate at all Usually, the homeowners ultimately lose their homes This scheme is similar to a foreclosure rescue scam. Illegal Property Flipping Property is purchased, falsely appraised at a higher value, and then quickly sold What makes property flipping illegal is that the appraisal information is fraudulent The schemes typically involve one or more of the following fraudulent appraisals falsified loan documentation inflated buyer income or kickbacks to buyers, investors, property loan brokers, appraisers, and title company employees. Builder Bailout Condo Conversion Builders facing rising inventory and declining demand for newly constructed homes employ bailout schemes to offset losses Builders find buyers who obtain loans for the properties The buyers then allow the properties to go into foreclosure In a condo-conversion scheme, apartment complexes purchased by developers during a housing boom are converted into condos When the market declines, developers have excess inventory of units Developers recruit straw buyers with cash-back incentives and inflate the value of the condos to obtain a larger sales price at closing In addition to failing to disclose the cash-back incentives to the lender, the straw buyers income and asset information are often inflated in order for them to qualify for properties that they otherwise would be ineligible or unqualified to purchase. Equity Skimming An investor may use a straw buyer, false income documents, and false credit reports to obtain a mortgage loan in the straw buyer s name Subsequent to closing, the straw buyer signs the property over to the investor in a quit claim deed, which relinquishes all rights to the property and pro vides no guaranty to title The investor does not make any mortgage payments and rents the property until foreclosure takes place several months later. Silent Second The buyer of a property borrows the down payment from the seller through the issuance of a nondisclosed second mortgage The primary lender believes the borrower has invested his own money in the down payment, when in fact, it is borrowed The second mortgage may not be recorded to further conceal its status from the primary lender. Home Equity Conversion Mortgage HECM A HECM is a reverse mortgage loan product insured by the Federal Housing Administration to borrowers who are 62 years or older, own their own property or have a small mortgage balance , occupy the property as their primary residence, and participate in HECM counseling It provides homeowners access to equity in their homes, usually in a lump sum payment Perpetrators recruit seniors through local churches, investment seminars, and television, radio, billboard, and mailer advertisements The scammers then obtain a HECM in the name of the recruited homeowner to convert equity in the homes into cash The scammers keep the cash and pay a fee to the senior citizen or take the full amount unbeknownst to the senior citizen No loan payment or repayment is required until the borrower no longer uses the house as a primary residence In the scheme, the appraisals on the home are vastly inflated and the lender does not detect the fraud until the homeowner dies and the true value of the property is discoveredmercial Real Estate Loans Owners of distressed commercial real estate obtain financing by creating bogus leases and using these fake leases to exaggerate the building s profitability, thus inflating their appraisal values using the income method approach These false leases and appraisals trick lenders into extending loans to the owner As cash flows are restricted to the borrower, property repairs are neglected By the time the commercial loans are in default , the lender is oftentimes left with dilapidated and unusable or difficult-to-rent commercial property Many of the methods of committing mortgage fraud that are found in residential real estate are also present in commercial loan fraud. Air Loans This is a nonexistent property loan where there is usually no collateral Air loans involve brokers who invent borrowers and properties, establish accounts for payments, and maintain custodial accounts for escrows They may establish an office with a bank of telephones, each one used as the fake employer, appraiser, credit agency, etc to fraudulently deceive creditors who attempt to verify information on loan applications. For additional information regarding mortgage fraud schemes and trends, please see the FBI Annual Mortgage Fraud Report which can be found at. Mortgage Fraud Prevention Measures. Tips to Protect Yourself Against Mortgage Fraud. Get referrals for real estate and mortgage professionals Check the licenses of the industry professionals with state, county, or city regulatory agencies. An outrageous promise of extraordinary profit in a short period of time signals a problem. Be wary of strangers and unsolicited contacts, as well as high-pressure sales techniques. Look at written information, to include recent comparable sales in the area and other documents such as tax assessments to verify the value of the property. Understand what you are signing If you do not understand, re-read the documents or seek assistance from an attorney or third party who represents your interest. Review the title history of the home you are anticipating to purchase to determine if the property has been sold multiple times within a short period It could mean that this property has been flipped, and the value falsely inflated. Know and understand the terms of your mortgage Check your personal information against the information as listed on the loan documents to ensure it is accurate and complete. Never sign any loan documents that contain blanks T his leaves you vulnerable to fraud. Check out the tips on the MBA website at for additional advice on avoiding mortgage fraud. Tips to Protect Yourself Against Mortgage Debt Elimination Schemes. Be aware of e-mails or web-based advertisements that promote the elimination of mortgage loans, credit card, and other debts while requesting an up-front fee to prepare documents to satisfy the debt The documents are typically entitled Declaration of Voidance, Bond for Discharge of Debt, Bill of Exchange, Due Bill, Redemption Certificate, or other similar variations These documents do not achieve what they purport. There is no easy method to relieve your debts. Borrowers may end up paying thousands of dollars in fees without the elimination or reduction of any debt. Tips to Protect Yourself Against Foreclosure Fraud Schemes. Be aware of offers to save homeowners who are at risk of defaulting on loans, or whose houses are already in foreclosure. Seek a qualified credit counselor or attorney to assist. Do not pay advanced fees for promised services. Financial Institution Fraud. FIF investigations are among the most demanding, difficult, and time-consuming cases undertaken by law enforcement in the area of white-collar crime Other than mortgage fraud, areas of primary investigative interest relative to FIF include insider fraud embezzlement and misapplication , check fraud, counterfeit negotiable instruments, check kiting, and fraud contributing to the failure of financial institutions. With the onset of the U S housing crisis that began in 2007, as well as the global financial crisis, mortgage fraud became a primary focus of the FIFU Although resources were shifted to combat mortgage fraud, the FBI continues to address other fraud schemes that impact our financial institutions FIF investigations related to emerging technologies and computer-related banking are taking on added significance among the nation s financial institutions. The FBI continues to concentrate its efforts on organized c riminal groups involved in FIF These groups are often involved in the sale and distribution of stolen and counterfeit corporate checks, money orders, payroll checks, credit and debit cards, U S Treasury checks, and currency Furthermore, the groups involved in check and loan fraud schemes are often involved in illegal money laundering activities in an effort to conceal their illegal proceeds The FBI often utilizes asset forfeiture statutes to seize and forfeit the proceeds of criminal activity. The FBI, USPIS, and the IRS conduct criminal FIF investigations with the goal of disrupting and dismantling organized fraud rings, as well as addressing individuals who continue to manipulate internal controls either alone or in collusion with others The FBI strongly supports joint investigations to effectively utilize limited resources while strengthening investigations by tapping into each agency s expertise Federal agencies work with state and local law enforcement, regulators, and the financia l institution industry to combat this crime problem. The FBI fosters relationships and partnerships within the banking industry to promote FIF awareness To raise awareness and increase accessibility to investigative personnel, the FBI has designated points of contact with relevant groups including the National Bank Fraud Working Group, local bank fraud working groups, and SAR working groups across the nation Included among these working groups are federal, state, and local law enforcement partners regulatory industry representatives and banking industry representatives. During FY 2011, cases pursued by the FBI resulted in 521 informations and indictments, and 429 convictions of FIF criminals The following are notable statistical accomplishments in FY 2011 for FIF 1 38 billion in restitutions 116 3 million in fines and seizures valued at 15 7 million The chart below reflects pending FIF cases from FY 2007 through FY 2011.Anthony Raguz Cleveland On September 27, 2011, Anthony Raguz, the fo rmer chief operating officer of the St Paul Croatian Federal Credit Union FCU , pleaded guilty to six counts, including bank fraud, money laundering, and bank bribery, for his role in one of the largest credit union failures in American history Raguz issued more than 1,000 fraudulent loans totaling more than 70 million to over 300 account holders in the Albanian and Croatian communities near Cleveland from 2000 to 2010 He accepted more than 1 million worth of bribes, kickbacks, and gifts in exchange for the fraudulent loans Raguz is one of 16 people charged for their roles in the credit union s collapse The failure of St Paul Croatian FCU resulted in a 170 million loss to the National Credit Union Share Insurance Fund. Gary Foster New York Gary Foster, a former vice president in Citigroup s treasury finance department, pleaded guilty on September 6, 2011, to bank fraud stemming from his embezzlement of more than 22 million from Citigroup Between September 2003 and June 2011, Foster firs t transferred money from various Citigroup accounts to Citigroup s cash account and then wired the money to his personal bank account at another bank Foster concealed his thefts by making various false accounting entries to create the appearance that the cash account was in balance and by placing a fraudulent contract or deal number in the reference line of the wire transfer instructions to give the appearance the wire transfers were actually in support of an existing Citigroup contract Foster used the money to buy real estate and luxury automobiles, including a Ferrari and a Maserati. William T Hernandez Louisville On September 20, 2011, William T Hernandez was sentenced to 41 months in prison and ordered to pay 453,819 in restitution for embezzling money from elderly customers Between October 2006 and June 2010, Hernandez, who was an investment banker employed by PNC Investments at the time, transferred money from investment accounts maintained with PNC Investments Hernandez deposited the money into a PNC account, then issued cashier s checks for his personal benefit and gain Hernandez pleaded guilty on June 21, 2011, to two counts of bank fraud. Financial Institution Failures. The FBI began to track the number of financial institution failure investigations in February 1986 A total of 157 banks failed in 2010, and 85 have failed since January 1, 2011, with the total number reaching 410 closures since 2007 Last year saw the highest number of bank failures since 1992, when 181 institutions closed By comparison, over 1,000 banks failed between 1987 and 1992, and more than 9,000 failed during the Great Depression, between 1930 and 1933.In addition, there are currently 865 U S banks on the Federal Deposit Insurance Corporation FDIC problem list as of June 30, 2011 Problem banks account for about 11 percent of all banking institutions As of October 2011, there were 7,433 FDIC-insured banking institutions with FDIC-insured deposits of almost 9 8 trillion and assets totalin g over 13 6 trillion Of these institutions, about 4,600 are regulated by the FDIC and the remainder are supervised by the Office of the Comptroller of the Currency and the Federal Reserve In addition, the National Credit Union Administration is charged with supervising the 7,239 active federally insured credit unions. The vast majority of the failed banks have closed as a result of market conditions e g devalued properties associated with the current financial crisis Their solvency is usually compromised because of unsafe and unsound banking practices and inappropriate risk management tied to heavy concentration of commercial real estate and acquisition, development, and construction loans The catalyst for the failure has been the economic climate and not criminal activity Upon closer inspection of the loan portfolios, however, some level of fraud is usually uncovered in many of the loans. One of the outcomes of the financial crisis that began in 2007 was the failure of the largest numbe r of U S banks since the savings and loan crisis of the 1980s As a result of the nature of this financial crisis, bank failure investigations have been opened at the FBI under a myriad of classifications, such as mortgage fraud, corporate fraud, and bank fraud Of the 1,719 pending FIF investigations, only 49 cases, or about 2 85 percent, involve criminal activity related to a failed federally insured financial institution. Donna Shebetich Pittsburgh On October 6, 2010, Donna Shebetich was indicted on five counts of filing false call reports to the FDIC Shebetich, a former vice president, director, and loan officer at Metropolitan Savings Bank, underreported millions of dollars in delinquent mortgages shortly before the Pittsburgh bank failed and its deposits were taken over by another bank Shebetich filed five false quarterly reports with the FDIC In the last report filed in November 2006, three months before the bank failed, she listed 0 in delinquent mortgages, when the bank really ha d more than 7 million in loans at least 30 days overdue The bank had roughly 15 8 million in assets in that quarter. Elexa Manos Pittsburgh On June 6, 2011, Elexa Manos pleaded guilty to one count of bank fraud in connection with a scheme to steal 4 million from the Dwelling House Savings Loan, a historic African-American financial institution founded in the 1890s, causing it to fail Beginning in about 2006, Manos stumbled upon and then exploited weaknesses in the internal controls of the savings and loan s Automated Clearing House ACH system Manos and other individuals she recruited, including her son, withdrew funds from 13 savings accounts via ACH debits or withdrawals The transactions were fraudulent because the accounts did not have sufficient funds available to cover the amounts being withdrawn, causing the bank to use all of its capital reserves to absorb the losses The funds were used to pay various vendors and creditors, as well as to fund electronic PayPal accounts Manos was s entenced to 150 months incarceration and ordered to pay 2 5 million in restitution. Robert E Maloney, Jr Atlanta On June 22, 2011, Robert E Maloney, Jr was indicted in a multi-million-dollar fraud and money laundering conspiracy This superseding indictment charged Maloney and two former top officers of First City Bank FCB of Stockbridge, Georgia with conspiracy to commit bank fraud, bank fraud, and related crimes in connection with misconduct at FCB in the years before the bank s seizure by state and federal authorities on March 20, 2009 Maloney assisted Mark Connor, the former bank president, and Clayton Coe, a senior lending officer, with massive insider dealing and fraud that preceded the bank s failure The dollar loss from the fraudulent activity caused FCB to fail and was a contributing factor in the failure of several other Georgia banks. The U S insurance industry consists of thousands of companies and collects nearly 1 trillion in premiums each year The size of the industry, unfo rtunately, makes it a prime target for criminal activity The Coalition Against Insurance Fraud CAIF estimates that the cost of fraud in the industry is as high as 80 billion each year This cost is passed on to consumers in the form of higher premiums. The FBI continues to identify the most prevalent schemes and the top echelon criminals defrauding the insurance industry in an effort to reduce insurance fraud The FBI works closely with the National Association of Insurance Commissioners, the NICB, the CAIF, as well as state fraud bureaus, state insurance regulators, and other federal agencies to combat insurance fraud In addition, the FBI is a member of the International Association of Insurance Fraud Agencies, an international nonprofit organization whose mission is to maintain an international presence to address insurance and insurance-related financial crimes on a global basis. With the cooperation of the insurance industry, through referrals from industry liaison and other law enforc ement agencies, the FBI continues to target the individuals and organizations committing insurance fraud The FBI continues to initiate and conduct traditional investigations as well as utilize sophisticated techniques, to include undercover investigations, to apprehend the fraudsters Currently, the FBI is focusing a majority of its resources relating to insurance fraud on the following schemes. Premium Diversion Unauthorized Entities The most common type of fraud involves insurance agents and brokers diverting policyholder premiums for their own benefit There are a growing number of unauthorized and unregistered entities engaged in the sale of insurance-related products As the insurance industry becomes open to foreign players, regulation becomes more difficult Additionally, exponentially rising insurance costs in certain areas i e terrorism insurance, directors officers insurance, and corporations increase the possibility for this type of fraud. Insurance-Related Corporate Fraud Althoug h corporate fraud is not unique to any particular industry, there have been instances involving insurance companies caught in the web of these schemes The temptations for fraud within the insurance industry can be greater during periods of financial downturns Insurance companies hold customer premiums, which are forbidden from operational use by the company However, when funding is needed, unscrupulous executives invade the premium accounts in order to pay corporate expenses This leads to financial statement fraud because the company is required to cover its tracks to conceal the improper utilization of customer premium funds. Viatical Settlement Fraud A viatical settlement is a discounted, pre-death sale of an existing life insurance policy on the life of a person known to have a terminal condition The parties to a viatical settlement include the insured party, insurance agent broker, insurance company, viatical company broker, and the investor Viatical settlement fraud occurs when mis representations are made on the insurance policy applications, in effect hiding the fact that the party applying for a policy has already been diagnosed with a terminal condition Additionally, fraud occurs when misrepresentations are made to the investors by the viatical companies about life expectancies of insured parties and guaranteed high rates of return. Workers Compensation Fraud The Professional Employer Organization PEO industry operates chiefly to provide workers compensation insurance coverage to small businesses by pooling businesses together to obtain reasonable rates Workers compensation insurance accounts for as much as 46 percent of small business owners general operating expenses Due to this, small business owners have an incentive to shop workers compensation insurance on a regular basis This has made it ripe for entities that purport to provide workers compensation insurance to enter the marketplace, offer reduced premium rates, and misappropriate funds without providi ng insurance The focus of these investigations is on allegations that numerous entities within the PEO industry are selling unauthorized and non-admitted workers compensation coverage to businesses across the United States This insurance fraud scheme has left injured and deceased victims without workers compensation coverage to pay their medical bills. Disaster Fraud When a disaster occurs, there are often individuals who seek to profit via false claims of damages Additionally, there are also non-insurance-related disaster frauds as many organizations and individuals solicit contributions for the victims of the disaster Most of the organizations and individuals involved are legitimate however, there are some who are not Victims may be approached through unsolicited e-mails asking for donations to a legitimate-sounding organization The schemer will instruct the victim to send a donation via a money transfer. Following the 2005 Hurricanes Katrina, Rita and Wilma, billions of dollars in fed eral disaster relief poured into the Gulf Coast region In order to screen, de-conflict, and refer reports of fraud to law enforcement, DOJ established the National Center for Disaster Fraud NCDF for individuals to report suspected fraud related to any type of disaster relief The FBI and the NCDF have established a 24-hour hotline that the public can contact in order to report suspected scams and or fraud associated with disaster relief such as the BP oil spill relief effort The public can report suspicious activity by telephone at 866 720-5721 or by e-mail at. Staged Auto Accidents Perpetrators of staged auto accidents will either stage an accident with co-conspirators or maneuver innocent motorists into accidents Although the resulting property damage may be small, the perpetrators make large and illegal claims for fake injuries and property damage This type of fraud results in higher insurance premiums for all drivers In some cases, innocent victims have been killed or injured in a st aged auto accident gone wrong. Property Insurance Fraud Perpetrators of property insurance fraud seek to obtain payment that is higher than the value of the property damaged or destroyed, or intentionally destroy property that could not be sold Common examples include arson, scuttling of boats, and the ditching of vehicles in lakes or canals. During FY 2011, 140 cases investigated by the FBI resulted in 19 indictments informations, 13 arrests, and 21 convictions of insurance fraud criminals In addition, the FBI obtained 87 6 million in restitutions in FY 2011 for insurance fraud Although the FBI has focused its efforts on higher priority WCC matters, insurance fraud investigations continue to be important and are often addressed utilizing liaison efforts in conjunction with other federal, state, and local law enforcement The chart below reflects insurance fraud pending cases from FY 2007 through FY 2011.Ronald Allen Newark On July 26, 2011, Ronald Allen was sentenced to 70 months in pris on for diverting policyholder premiums for his own benefit Allen, along with a number of co-conspirators, sold insurance liability policies to high-risk business such as restaurants and bars Premiums were diverted and legitimate insurance policies were never issued A number of businesses that thought they had insurance had claims filed against them It could cost the businesses millions of dollars to cover claims that they thought were covered by the fictitious insurance policies The aforementioned premium diversion insurance fraud is the most common type of insurance fraud that is reported to the FBI. Mass marketing fraud is a general term for frauds which exploit mass-communication media, such as telemarketing, mass mailings, and the Internet Since the 1930s, mass marketing has been a widely accepted and exercised practice Advances in telecommunications and financial services technologies have further served to spur growth in mass marketing, both for legitimate business purposes as wel l as for the perpetration of consumer frauds They share a common theme the use of false and or deceptive representations to induce potential victims to make advance fee-type payments to fraud perpetrators Although there are no comprehensive statistics on the subject, it is estimated mass marketing frauds victimize millions of Americans each year and generate losses in the hundreds of millions of dollars The following is a brief description of some of the key concepts and schemes associated with the mass marketing advance fee fraud crime problem. Advance Fee Fraud This category of fraud encompasses a broad variety of schemes which are designed to induce their victims into remitting upfront payments in exchange for the promise of goods, services, and or prizes Some of the most prevalent schemes being encountered are the following. Nigerian Letter Fraud Victims are contacted regarding substantial sums of money held in foreign accounts and are requested to pay various fees to secure their tr ansfer to the United States in exchange for a portion of the total proceeds Alternatively, victims are asked to act as a U S agent in securing the release of such funds and are provided with counterfeit instruments which are to be cashed in order to pay any required fees, only to discover they must reimburse their financial institution for cashing a counterfeit instrument A variation of this fraud involves the use of fraudulent websites which have been created to resemble website pages of legitimate financial institutions to enhance the scheme s credibility and swindle greater amounts of money from victims The victims are directed to open accounts at the fictitious banks websites into which the perpetrators transfer the victims funds Victims cannot withdraw or transfer the funds when they log on to the fictitious bank websites and are prompted to pay additional taxes or fees before the funds can be released The funds are never released. Foreign Lottery Sweepstakes Fraud Victims are info rmed they have won a substantial prize in a foreign drawing, but must remit payment for various taxes fees to receive their winnings Alternatively, victims are provided with counterfeit instruments, representing a portion of the winnings, which are to be cashed in order to pay the required fees, only to discover they must reimburse their financial institution for cashing a counterfeit instrument. Overpayment Fraud Victims who have advertised some item for sale are contacted by buyers who remit counterfeit instruments, in excess of the purchase price, for payment The victims are told to cash the payments, deduct any expenses, and return or forward the excess funds to an individual identified by the buyer, only to discover they must reimburse their financial institution for cashing a counterfeit instrument. Recovery Impersonation Schemes Victims are contacted by perpetrators posing as law enforcement officers, government employees, or lawyers to inform victims that the persons responsible for the original fraud schemes have been arrested or successfully sued and their bank accounts have been seized The victims are told the seized money is going to be returned to the victims, but the victims must first pay fees for processing and administrative services Recovery pitches often target victims many months or years after the original fraud schemes. The predominantly transnational nature of the mass marketing fraud crime problem presents significant impediments to effective investigation by any single agency or national jurisdiction Typically, victims will reside in one or more countries, perpetrators will operate from another, and the financial money services infrastructure of numerous additional countries are utilized for the rapid movement and laundering of funds For these reasons, the FBI is uniquely positioned to assist in the investigation of these frauds through its network of legal attach legat offices located in over 60 U S Embassies around the world By leveraging its global presence and network of liaison contacts, the FBI has successfully cooperated with other domestic and foreign law enforcement agencies to combat, disrupt, and dismantle international mass marketing fraud groups The FBI participates in the International Mass Marketing Fraud Working Group IMMFWG , a multi-agency working group established to facilitate the multi-national exchange of information and intelligence, the coordination of cross-border operational matters, and the enhancement of public awareness of international mass marketing fraud schemes The current membership of the IMMFWG consists of law enforcement, regulatory, and consumer protection agencies from seven countries, including Australia, Belgium, Canada, the Netherlands, Nigeria, the United Kingdom, and the United States. Despite the best interagency enforcement efforts to combat mass marketing fraud, the FBI remains cognizant of the fact that the only enduring remedy for this crime problem lies in consumer education a nd fraud prevention programs Toward this end, the FBI has not only produced its own mass marketing fraud prevention materials, but coordinates on other public information efforts with the DOJ, FTC, and the USPIS, among others The FBI also supports a consumer fraud prevention website in conjunction with the USPIS which can be located on the web at Additionally, further information on mass marketing fraud schemes can be found at , and. As of the end of FY 2011, the FBI was investigating 96 cases of mass marketing fraud and, during FY 2011, recorded multiple indictments and convictions Although the FBI has focused its efforts on higher-priority financial crime matters, mass marketing fraud investigations continue to be addressed utilizing liaison efforts in conjunction with other federal, state, and local law enforcement agencies and the IMMFWG The chart below reflects mass marketing fraud pending cases from FY 2007 through FY 2011.Foreign Lottery Sweepstakes Fraud New York This investigat ion centered on the activities of Israel-based telemarketing con men that pitched winnings in an international lottery sweepstakes primarily to elderly American victims The victims were informed they won the lottery, but first had to send over payment to cover taxes and fees to have the money released and sent to their account However, there was no lottery and the perpetrators would just keep the funds for personal use and continue to try to solicit victims for additional fees and taxes to release their alleged winnings A total of nine subjects were charged, and seven of the subjects, all Israeli nationals, were extradited to the United States and sentenced to prison terms that ranged from 33 months to nine years This is the largest number of Israeli citizens ever extradited to a foreign country in a single case This investigation was extremely successful in large part due to the FBI s continued use of sophisticated investigative techniques to address financial crimes and the outstandi ng cooperation and assistance provided by the Tel Aviv Fraud Division of the Israel National Police Total victim losses were approximately 2 million. Foreign Lottery Sweepstakes Fraud Los Angeles This investigation centered on the activities of Vancouver, Canada-based telemarketing businesses that pitched European prize bonds to primarily elderly Americans These companies promised victims that their money would be pooled and used to purchase lottery tickets, that the victims had a very good chance of winning money, or that the victims had actually won a large sum of money Fraudsters also told victims their money would buy a bond and their investments were guaranteed, meaning they could obtain refunds of their initial investments after a short period of time However, the victims money was never used to provide any benefit to victims, and none of the victims ever received any substantial payment from the fraudulent companies Approximately 4,500 individuals, mostly elderly, were victimized by this scheme The main subject was sentenced to nine years in prison and ordered to repay victims 4 76 million This case was investigated by FBI Los Angeles, in conjunction with the USPIS, FTC, and the Royal Canadian Mounted Police. Foreign Lottery Sweepstakes Fraud Los Angeles This investigation centered on the activities of several lottery companies based in London, England Using phone calls, letters, and e-mails, subjects contacted potential victims, telling them they had won a lottery prize However, to collect the winnings, victims had to call telemarketers in Spain or England, who told the victims they had to pay taxes or other fees to receive prizes that never materialized Approximately 52 victims, primarily elderly, were defrauded out of more than 2 7 million Victims were from around the world, including the United States and the United Arab Emirates The main subject was sentenced to 14 years in prison This case was investigated by FBI Los Angeles and the Metropolitan Police Se rvice in London. Tips to Protect Yourself Against Mass Marketing Fraud. Things You Should Do. Insist on learning the full name, address, and contact information for any company soliciting your business, personal information, or assistance. Insist that all solicitors send materials to you in writing so that you are able to study the full details of the offer, as well as any guarantees and or refund policies. Research all solicitors through the Better Business Bureau, state attorney general s office, and or consumer protection service in the state or city where the company is located. Prior to making any significant financial decisions, consult a family member, friend, your attorney, accountant, and or other trusted advisor for an objective opinion. To stop receiving telephone solicitations, instruct solicitors to delete your contact information from all call lists and register with the FTC s Do Not Call Registry. Report suspicious telemarketing calls, mail solicitations, or advertisements to th e FTC at 1 877 FTC HELP or online at. Things You Should NOT Do. Do not make any payments to either secure a prize or improve your chances of winning a prize. Do not be intimidated into making hasty financial decisions by high-pressure sales tactics. Do not provide anyone with your sensitive personal or financial information unless. it is to an entity whose legitimacy is personally known to you, and. you personally initiated the contact with the entity. Do not send funds via wire or electronic money transfer services unless. it is to an entity whose legitimacy is personally known to you, and. you personally initiated the contact with the entity. Do not deposit checks and wire back any fees using the check proceeds until the checks have fully cleared It is common for a fraudster to send a check to victims with a requirement that a portion of the check be returned to the fraudster e g wire back taxes on winnings using part of the check or wiring back excess amount received for something you were se lling. Do not be lured by offers that are simply too good to be true they almost certainly are. Asset Forfeiture Money Laundering. The mission of the Asset Forfeiture Money Laundering Unit AF MLU is to promote the strategic use of asset forfeiture and to ensure field offices employ the money laundering violation in all investigations, where appropriate, to disrupt and or dismantle criminal enterprises The asset forfeiture and money laundering process identifies, targets, disrupts, and dismantles criminal and terrorist organizations and individuals engaged in fraud schemes which target our nation s financial infrastructure. The implementation of the asset forfeiture process to criminal investigations provides law enforcement with the opportunity to deprive wrongdoers of the proceeds of their crimes, recover property that may be used to compensate victims, and deter future criminal activity The asset forfeiture process can destroy the financial infrastructure of criminal enterprises, return funds to victims of large-scale fraud, and share forfeited property with state and local law enforcement agencies. The AF program and the ML program provide support to all FBI investigative programs, to include the international and domestic terrorism programs. The DOJ defines money laundering in the following manner. Money laundering is the process by which criminals conceal or disguise the proceeds of their crimes or convert those proceeds into goods and services It allows criminals to infuse their illegal money into the stream of commerce, thus corrupting financial institutions and the money supply, thereby giving criminals unwarranted economic power. The FBI maintains a proactive approach when investigating money laundering After identifying a specified unlawful activity that generates illicit proceeds, a parallel financial investigation is conducted in order to locate the proceeds and prove their connection to the underlying crime. The FBI s AF program is one of the most successful in all of law enforcement In the WCCP, the bulk of the monies seized are returned to victims of the frauds that generated them This is unique to the FBI and some other agencies Most people associate the seizure and forfeiture of assets with narcotics trafficking Although the FBI does seize assets from drug dealers and other criminals, the WCCP is the largest contributor to the FBI s forfeiture program. Through FY 2011, 303 cases investigated by the FBI resulted in 37 indictments and 45 convictions of money laundering fraud criminals For FY 2011, the following money laundering accomplishments were achieved for the WCCP 18 4 million in restitutions 809,414 in recoveries and 983,536 in fines The chart below reflects pending money laundering cases from FY 2007 through FY 2011.Barclays New York On August 16, 2010, Barclays Bank entered into a deferred prosecution agreement waiving indictment and the filing of a two-count criminal information charging violations of Title 50, United States Code U SC , Section 1705, the International Emergency Economic Powers Act IEEPA and Title 50, USC, Section 5 16, Trading With the Enemy Act TWEA Under IEEPA and TWEA, it is a crime to willfully violate or attempt to violate any regulation issued under the act, including those related to Cuba, Iran, Libya, Sudan, and Burma The IEEPA and TWEA regulations are administered by the Office of Foreign Assets Control OFAC This investigation resulted in the forfeiture of 298 million. Credit Suisse New York On December 16, 2009, Credit Suisse entered into a deferred prosecution agreement waiving indictment and the filing of a one-count criminal information in violation of Title 50, USC, Section 1705, the IEEPA The violations relate to transactions Credit Suisse illegally conducted on behalf of customers from Iran, Sudan, and other countries sanctioned in programs administered by the Department of the Treasury s OFAC This investigation resulted in the forfeiture of 536 million, which was the largest forfe iture ever received for this type of violation. The Forensic Accountant Unit FAU was established in March 2009 to support all FBI investigative matters requiring a forensic financial investigation The FAU provides oversight of the forensic accountant FoA and financial analyst FA programs, ensuring that the FBI s financial investigative needs and priorities are continuously addressed Key to the FAU s mission is developing, managing, and enhancing the FoA and FA programs, to ensure that FBI financial investigative matters are expedited with the high-level of expertise required in an increasingly complex global financial system. The forensic accountant program FAP is the culmination of years of effort to advance and professionalize the FBI s financial investigative capabilities The FoA position was developed to attract and retain top-tier accounting professionals who possess the ability to conduct complex and thorough forensic financial investigations The FBI s FoAs are expected to testify as expert witnesses in judicial proceedings after completing the financial investigative portion of complex investigations. The mission of the FAU is to support all FBI investigative matters requiring a forensic financial investigation and to ensure the FBI s financial investigative priorities are continually addressed The FAU seeks to provide the highest caliber of financial investigative work product and support as well as contributing to the FBI s intelligence cycle The FAU continues to develop and implement a rigorous training curriculum and is collaborating with an array of public and private organizations in an effort to cultivate a workforce that provides superior results both in the field offices and at FBI Headquarters. Forensic Accountant Support Team The Forensic Accountant Support Team FAST is stationed within the FAU, enabling the FBI to quickly respond to significant, high-profile investigations and augment field office resources to notably advance an investigation This pro fessional support workforce is an asset to all FBI investigative programs and enables the FBI to more efficiently and effectively conduct complex investigations requiring a thorough forensic financial review The seven members of the FAST have worked a number of priority investigations during FY 2011 across a variety of investigative matters. Forensic Accountant Core Training Session Training Course The Forensic Accountant Core Training Session FACTS is a rigorous, comprehensive introductory program of instruction designed to increase an FoA s proficiency in the critical areas necessary to conduct a financial investigation This extensive course develops the FoA s aptitude and knowledge in handling a financial investigation according to pertinent rules and regulations across a wide variety of subject matters The material covered focuses primarily on providing an overview of FBI programs and systems, financial investigative topics and techniques, resources available to develop an investiga tion, legal training, and expert witness-testifying techniques During FY 2011, the FAU held three courses with a total of 128 graduates. BankScan Initiative BankScan is an in-house-created software application which translates physical bank and credit card statements into an electronic medium, thus dramatically decreasing the time-consuming data-entry process In FY 2011, the FAU provided BankScan training to three FACTS classes, three field offices, and the Terrorism Financing Operations Section at FBI Headquarters Each field office was supplied with the necessary software and equipment to implement the BankScan project Since its implementation, the FBI has benefited through an exponential increase in financial investigative efficiency and productivity Through the third quarter of FY 2011, an estimated 4,270 days 11 7 years of time has been saved by using BankScan. Electronic Subpoena Production The Electronic Subpoena Production initiative represents a joint undertaking of the FBI s CID , DOJ s Criminal Division Fraud Section, and the IRS Electronic Subpoena Production requires financial institutions to digitally produce account data stored electronically by relying on existing Rule 17 of the federal rules of criminal procedure and the updated Federal Reserve Regulation S effective January 1, 2010 When used in conjunction with BankScan, the introduction of this new process will substantially increase the efficiency and effectiveness of FBI forensic financial investigations. Financial Analyst Conversion In FY 2011, the FAU began the second phase of the selective conversion process to transition qualified FAs to the FAP to provide the FBI s investigative programs with the highest caliber of financial investigative work product and support This effort ensures only those individuals satisfying the FoA requirements convert to the FAP The second phase of the conversion will be completed during the early part of FY 2012.Financial Investigative Report The FAU deployed the Fina ncial Investigative Report FIR template in FY 2011 The purpose of the FIR is to provide FAs and FoAs a standardized organizational tool that consistently presents financial investigative analysis, notes, and details to case agents CAs and assistant U S attorneys AUSAs The intended result is to create high-quality, uniform reporting that meets or exceeds the standards set by the Ca, AUSA, and the FAP. The FAP provided substantial support to the following major cases. Fair Finance Timothy Durham, James Cochran, and Rick Snow were indicted and charged with wire fraud, securities fraud, and conspiracy to commit securities fraud for allegedly committing a scheme to defraud the investors of Fair Finance Fair Finance was a privately-held niche lender that specialized in account receivables management and financing consumer installment sales contracts It is alleged in the indictment that over the last several years, Durham, Cochran, and Snow used Fair Finance investor money to finance other busi ness operations and lifestyle expenditures, unbeknownst to investors There are over 5,000 victim-investors totaling approximately 200 million in loss Trial is scheduled for June 2012.Galleon Group Raj Rajaratnam was recently found guilty in Manhattan by a jury in federal court of conspiracy and securities fraud crimes stemming from his involvement in the largest hedge fund insider trading scheme in history Rajaratnam was the Managing Member of Galleon Management, LLC Galleon , the General Partner of Galleon Management, L P and a portfolio manager for Galleon Technology Offshore, Ltd and certain accounts of Galleon Diversified Fund, Ltd He was convicted on all 14 counts after an eight-week trial and sentenced to 11 years incarceration. American Therapeutic Corporation ATC Lawrence Duran, Marianella Valera, and others pled guilty to their roles in a scheme to submit more than 200 million of fraudulent claims to Medicare The scheme was orchestrated by the above owners and operators of Amer ican Therapeutic Corporation ATC its management company, Medlink Professional Management Group Inc and the American Sleep Institute ASI ATC s owners and operators paid kickbacks to owners and operators of assisted living facilities and halfway houses and to patient brokers in exchange for delivering ineligible patients to ATC and ASI Throughout the course of the ATC and ASI conspiracy, millions of dollars in kickbacks were paid in exchange for Medicare beneficiaries who did not qualify for partial hospitalization program services Lawrence Duran was sentenced to 50 years in prison for his role in the Medicare fraud scheme and was ordered to pay more than 87 million in restitution, jointly and severally with the co-defendants Duran s sentence is the longest prison sentence ever imposed in a Medicare Fraud Strike Force case Marianella Valera was sentenced to 35 years in prison and ordered to pay restitution Margarita Acevedo, a cooperating witness, was sentenced to seven-and-a-half year s in prison and was ordered to pay 72 7 million in restitution Alan Gumer, MD Adrianna Mejia James Edwards Joseph Valdes and Nelson Fernandez also pled guilty to their roles in the fraud scheme, but have yet to be sentenced Sentencing for these individuals is scheduled for January 2012.Financial Intelligence Center. The Financial Intelligence Center FIC is a proactive data exploitation unit within the FCS, created in September 2009 It is staffed with a cadre of intelligence analysts IA and staff operations specialists SOS The FIC s mission is to provide tactical analysis of financial intelligence datasets and databases by using evolving technology and data exploitation techniques identify potential criminal enterprises and enhance investigations Additionally, the FIC has established liaison relationships with other government and regulatory agencies to identify additional data sources to disrupt and dismantle criminal enterprises and others and increase information sharing The FIC suppo rts the following WCC subprograms. Financial institution fraud including mortgage fraud. Securities commodities fraud. Public corruption. Fraud against government. Health care fraud. Money laundering and other crimes. The FIC reviews large datasets to identify potential new targets for investigation see examples below Once a potential target is identified, the FIC conducts research using various internal databases and a myriad of external databases such as Lexis Nexis, Dun Bradstreet, CLEAR, and Public Access to Court Electronic Records and data provided by other agencies including the SEC, HHS, FINRA, and the DOJ The information is then organized using Excel spreadsheets and link chart analyses to connect the dots of all the key players The results of the research and analysis are then summarized and referred to the appropriate field office in the form of a targeting package for their discretion in opening an investigation. Securities and Futures SAR Review Project Analysts who support the se curities commodities fraud program review securities and futures SARs using defined parameters to identify potential subjects They then perform preliminary research to determine if the subjects are valid targets to disseminate to the appropriate FBI field office. Public Corruption Economic Stimulus Project Analysts who support the public corruption and fraud against the government programs research the American Recovery and Reinvestment Act funding distribution to identify vulnerabilities for fraud and prepare targeting packages to disseminate to the appropriate FBI field offices for review and potential case initiation. Health Care Fraud Prevention and Enforcement Action Team Project Analysts who support the HCF program work with HHS-OIG in collaborative data sharing to identify providers of medical equipment and services engaged in HCF The FIC performs a detailed analysis of the identified providers and formulates a targeting package that is presented to the applicable field office for review and potential case initiation. Health Care Fraud SAR Review Project Analysts who support the HCF program review SARs to identify physicians engaged in HCF The FIC performs a detailed analysis of the potential physicians and formulates a targeting package that is presented to the applicable field office for review and potential case initiationmercial Real Estate Loan SAR Project Analysts who support the FIF subprogram review SARs that reference commercial real estate loans to identify potential targets After further research, targeting packages are disseminated to the appropriate FBI field offices for review and potential case initiation. FDIC Referrals Initiative Analysts who support the FIF subprogram, in conjunction with the FIFU, conduct reviews of the FDIC s failed loans issued by various lending institutions to identify current indicators of potential fraudulent activity The data collected from the loan files is compared to various databases to identify subjects worthy of ta rgeting packages Once the targeting packages are prepared, they are presented to the applicable field offices for review and potential case initiation. Money Laundering National SAR Review Project Analysts who support the ML program use this initiative, sponsored by the DOJ, to target money laundering activity with an international nexus Analysts utilize multi-agency resources to review SARs that have the potential for case initiation The FIC performs a detailed analysis of the potential cases and formulates a targeting package that is presented to the applicable field office for review and potential case initiation. Asset Forfeiture Money Laundering Unit Agape Merchant Advance, LLC Assistant United States Attorney Case Agent Coalition Against Insurance Fraud Commodities Futures Trading Commission Criminal Investigative Division Community Medical Health Center Centers for Medicare and Medicaid Services Durable Medical Equipment Department of Justice Deferred Prosecution Agreement Electro nic Bank Records Initiative Economic Crimes Unit Financial Analyst Forensic Accountant Core Training Session Forensic Accountant Program Forensic Accountant Support Team Forensic Accountant Unit Federal Bureau of Investigation First City Bank Financial Crimes Section Federal Deposit Insurance Corporation Food and Drug Administration Financial Fraud Enforcement Task Force Financial Intelligence Center Financial Institution Fraud Financial Institution Fraud Unit Financial Industry Regulation Authority Financial Investigative Report Forensic Accountant Foreign Currency Exchange Forfeiture Support Project Federal Trade Commission Fiscal Year Gross Domestic Product Glaxosmithkline Health Care Fraud Health Care Fraud Unit Home Equity Conversion Mortgage Health and Human Services-Office of Inspector General Intelligence Analyst International Emergency Economic Powers Act International Mass Marketing Fraud Working Group Internal Revenue Service Legal Attach Mortgage Bankers Association Money L aundering National Center for Disaster Fraud National Health Care Anti Fraud Association National Insurance Crime Bureau Operation Broken Trust Office of Foreign Assets Control Office of Inspector General Professional Employer Organization Suspicious Activity Reports Securities and Exchange Commission Special Inspector General for the Troubled Asset Relief Program Staff Operations Specialist Taylor, Bean Whitaker Trading With the Enemy Act U S Attorney s Office U S Postal Inspection Service White-Collar Crime White-Collar Crime Program. 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I began trying to find historic support and resistance levels by myself. I tried this method for three years while I continued to work as a doctor and I easily lost more money than I made. I would always find the price to be reacting to some hidden level that I couldn t see No matter how hard I tried, no matter how hard I worked, I couldn t see any historic point of reaction at the price levels my trades were reacting at. It was all incredibly frustrating and I was ready to give up trading Forex on more than one occasion during that three year period. Then I met my husband, who also happened to be a n institutional trader I had long discussions with my husband and hiscolleagues about what really influences the Forex market. And What I Learned was a Real Revelation to Me. You see, the truth is there are many big hedge funds i e real money clients who deal in currency amounts many, many, many times bigger than what your Average Joe Forex Trader like us deals with. And their trading decisions have a tremendous impact even on large liquid markets like EUR USD. Most of these real money clients, as well as banks, speculate through currency options as it provides them with higher leverage and safety from stop losses. The size of the option market has continued to grow and in the case of EUR USD has now grown enough to start impacting the spot EUR USD market. Once I Understood this, I Went About Trying to Find. Ways to Exploit This Fact About the Options. Market to My Advantage. First, I studied the options market closely and developed a solid understanding of such things as expiries and the cost of options, etc. Then using what I learned, along with some trial and error, I was able to devise a simple and logical method to calculate support andresistancelevels for EUR USD using option levels as the base for my formula. Soon the Hidden Levels Were No. Longer Hidden from Me. My Forex profits soared and in a matter of months I was able to quit my job as a doctor and leave all that stress behind Today, I work from home I set my own hours and I have the flexibility to do what I want, when I want. I Use Publicly Available Options Market Data to Calculate Supports Resistances for EUR USD And the. Level of Accuracy is Amazing. Now you can do the same thing thanks to my Forex Support and Resistance Exploit Options Data Method. Armed with this method. Plus, this method completely removes emotion from the trading process I m sure I don t have to tell you that emotion is one of the biggest roadblocks to Forex trading success. How often have you held on to a money-making trade too long and saw all your profits disappear. How often have you bailed on a money-losing trade too soon and missed the big rebound. With the Forex Support and Resistance Exploit Options Data Method, you ll learn how to determine accurate support and resistance levels so you ll know exactly when you should enter and exit a trade. Here is more of what you will learn. How to enjoy consistent earnings using a simple calculation method. How to set accurate entries and exits that will help you squeeze the maximum cash profit from every investment. How to become a highly efficient, highly profitable Forex trading machine. What every Forex investor must know to be successful and maximize their profits. And much, much more. Take a Look at What Buyers on Have. Had to Say About This Method. I ve been selling this method on and I have a 100 Positive response rating over the past 12 months. Here s what just a few of the buyers have had to say. So What Are You Waiting For. Order Now Discover How to Spot Hidden Price Levels Send You r Forex Profits Skyrocketing. How much would you expect to pay for a trading tool that quite literally could change your life by allowing you to explode your investment earnings and gain the financial security you ve always dreamed about. Certainly, even hundreds of dollars would not be unreasonable to many as you could easily make much, much more than that using this method. But relax you won t have to pay near that much for the Forex Support and Resistance Exploit Options Data Method. Remember this trading method could easily allow you to earn more than a hundred times the small price you will be paying and that s not even mentioning all the money you will save by not purchasing all those scam robots and Forex software programs that are on the market today. Getting This Method is Your Chance to Completely Bypass Forex Trading s Frustrating, Not to Mention Expensive, Trial Error Stage Put Yourself Directly. on the Fast Track to Success. Forex Support and Resistance Exploit Options Data Me thod contains the straightforward, easy to use calculation method that will help you avoid the common mistakes beginning traders make saving you valuable time and money and allowing you to discover the absolute surest path to trading riches. In fact, armed with this method you will know exactly how to achieve your Forex trading goals and since it is available as an instant download you will be able to begin using and benefiting from it immediately. If You Use My Option Levels Calculation Method, You Could Easily Make 10-30 Pips a Day If Not More. Order today and I will send you my complete method and then all you ll have to do is update one Excel spreadsheet at the start of each trading day. That s it Making money trading Forex couldn t be any easier. It ll only take you 10 minutes and the only requirement to get started is that you have a very, very basic knowledge of Excel Basically, you just need to know how to open an Excel spreadsheet and enter data into it And, if at any point you need help, we myself and my husband will be available to provide support via email and telephone. Plus, With My Unconditional 100 Money-Back Guarantee. You ve Got Absolutely Nothing to Lose. I am so sure that you will love the Forex Support and Resistance Exploit Options Data Method that I am offering an unconditional 100 money-back guarantee. If you are not completely satisfied with your purchase, simply notify me within 15 days and I will refund your money, in full, with absolutely no questions asked. That s TWO FULL WEEKSto put this method to the test I don t think I can be any fairer than that Either get the method you need to make money trading Forex or get your purchase price back. Plus, don t forget, if you order Forex Support and Resistance Exploit Options Data Method today, you can take advantage of my immediate download feature to begin benefiting from this trading method in just minutes. So What ARE You Waiting For. Order Now and Receive the Forex Support and Resistance Exploit O ptions Data Method. Remember, I do not believe in miracle robots or software or black boxes that spew out numbers and that s not what I m going to send you. You ll be receiving a real, proven calculation method that you can use to accurately set support and resistance levels. The truth is if you do not understand how to calculate these levels, you will never be able to earn the kinds of Forex profits top traders earn So, I am going to make sure that you understand how to calculate these levels and how to use this information to your advantage financially. To take advantage of this tremendous offer while it lasts, offernow. P S Are you at your wit s end trying to figure out support or resistance levels The Forex Support and Resistance Exploit Options Data Method is a unique, proven way to figure out these important levels quickly and easily Order now and get this powerful method at a special low price. P P S Also remember, that you are making this purchase at absolutely no risk So grab this special price while you can If the Forex Support and Resistance Exploit Options Data Method isn t everything you were expecting, simply notify me within 15 days and I will refund your money immediately. Posted with Mobile.