Financial Fraud

Financial fraud doesn’t just effect large banks and those on Wall Street. Every dollar that is owed to the U.S. government, and not paid, affects every U.S. citizen. With the enactment of the Dodd Frank Wall Street Reform and Protection Act of 2010 the IRS Whistleblower Office, the SEC Whistleblower Office and the CFTC Whistleblower Office were all created to help enforce, detect and combat financial fraud. Modeled after the False Claims Act, the Dodd Frank Act was put in place as a result of the staggering problems that arose from the 2008 financial crisis. Designed to regulate financial markets and improve consumer protections Dodd Frank also provides incentives and protections for whistleblowers who provided information concerning violations of the securities laws.

Types of Financial Fraud include:
• Mortgage origination fraud
• Violations of the Commodity Exchange Act
• Improper preparation of financial statements of public companies
• Ponzi Schemes
• Insider Trading
• Bribing foreign government officials in violation of the Foreign Corrupt Practices Act
• FEMA Fraud
• Government grant fraud related to research and education
• TARP Fraud