Members of the FBI are often called upon to investigate white collar crimes of a financial nature, and pursue the criminals who participate in illegal activities such as:
These crimes are investigated by a special division of the FBI called the Financial Crimes Section (FCS). Their goal is to stop those who are committing these crimes and take back any money or assets that they have gained as a result. The FCS is broken up into three separate branches:
Economic Crimes Unit - I
This group deals in fraudulent activities that are designed to bilk individuals or businesses through the use of plots such as corporate fraud, telemarketing scams and pyramid schemes. They also deal in matters of insurance fraud, except when it involves the healthcare industry.
Economic Crimes Unit - II
This unit specializes in fraud cases that victimize financial institutions. These crimes include loan fraud, insider trading, check writing fraud and mortgage fraud. Many of these scams are performed by organized crime groups, and another mission of the FBI is to stop and disassemble these organizations.
One of the objectives of the Economic Crimes Unit - II is to identify and track the methods that criminals use in the process of money laundering. They study this process in the hopes of learning how it is accomplished so that they may better understand how to stop it, and retrieve funds that have been put into the laundering system.
Health Care Fraud Unit
This unit deals exclusively with cases that affect and defraud the health care industry. Both private and public health care organizations are under the protection of this group. The crimes that they investigate involve pharmaceutical scams, patients being billed for services that were not performed, inflated rates, kickbacks, and medical equipment fraud cases.
White Collar Crime Program (WCCP)
The WCCP is the name for the FBI's overall program in the fight against every type of white collar crimes. This system helps to keep track of the accomplishments and case studies of the Financial Crimes Section. WCCP members work together with several departments of the FBI, and other law enforcement agencies to investigate the many different types of financial crimes.
The fight against financial fraud is a multi-tiered program that is responsible for monitoring and dealing with a wide range of white collar criminal activities. Members of the groups that are dedicated to this fight continually strive to protect the financial holdings of individuals and businesses as well as the economic condition of the nation from those who would take advantage of it through the use of fraudulent schemes and criminal activities.
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