In response to an executive order today by President Trump, the U.S. Department of Justice launched a new task force on market integrity and consumer fraud. Led by Deputy Attorney General Rod Rosenstein, the group will focus on fraud against consumers — especially the elderly, military service members and veterans — as well as corporate fraud that victimizes the general public and the government.
The task force will work with the Consumer Financial Protection Bureau, the Securities and Exchange Commission and the Federal Trade Commission, Rosenstein said at a launch event today. “We expect to focus on cases involving fraud against the government, the financial markets, and consumers; procurement and grant fraud; securities and commodities fraud; digital currency fraud; money laundering; health care fraud; tax fraud; and other financial crimes,” he said.
The American Bankers Association and the banking industry have long supported efforts to protect all consumers from fraud. Last month, the ABA Foundation released a free resource guide for banks on effective partnerships with law enforcement and adult protective services agencies to prevent elder fraud.