Establishment of the Financial Fraud Enforcement Task Force
Headline: Creates Financial Fraud Enforcement Task Force to Fight Crimes
What it does: Agencies must join a Justice-led task force to investigate and prosecute significant financial crimes and coordinate enforcement with state and local authorities.
- Creates a federal task force to centralize investigation and prosecution of major financial fraud.
- Encourages coordination between federal and state, local, tribal, and territorial law enforcement.
- Requires outreach to banks, businesses, and nonprofits to help detect and prosecute fraud.
Summary
This order creates a Financial Fraud Enforcement Task Force led by the Department of Justice to strengthen investigation and prosecution of significant financial crimes related to the financial crisis and recovery efforts.
The Task Force is chaired by the Attorney General and includes senior officials from many federal departments and agencies; it will coordinate with State, local, tribal, and territorial law enforcement.
It directs outreach to financial institutions, businesses, and nonprofits, seeks to recover proceeds of fraud, and requires the Department of Justice to provide administrative support subject to available appropriations.
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