WASHINGTON—The Department of Justice, Bureau of Consumer Financial Protection, Federal Trade Commission and other agencies are joining forces to combat consumer fraud through a new task force announced this week, which was established by an executive order signed by President Donald Trump.
The Task Force on Market Integrity and Consumer Fraud will mainly focus on fraud against the elderly, servicemembers and veterans.
Announcing the new task force, DOJ Deputy Attorney General Rod Rosenstein used the example of a coordinated effort between DOJ, the Departments of Homeland Security and Treasury, and the Postal Inspection Service that resulted in 74 arrests in the U.S. and overseas over cyber-enabled financial fraud.
This new task force, which will invite participation from law enforcement, hopes to "identify and stop fraud on a wider scale than any one agency acting alone," Rosenstein said.
Its focus will be on fraud against the government, financial markets and consumers, procurement and grant fraud, securities and commodities fraud, digital currency fraud, money laundering, healthcare fraud, tax fraud, and other financial crimes.
Mick Mulvaney, acting director of the BCFP, also delivered remarks on the establishment of this task force.