Fraud Recovery Experts in 2020

Fraud recovery is a growing concern, with more Americans becoming victims of fraud. Financial institutions, money services businesses, and federal agencies are working together to fight this criminal activity. Illicitly obtained pandemic relief funds, such as U.S. Small Business Administration loan programs and unemployment insurance, are a prime example. The Secret Service has also launched an ongoing effort to address this crime through prevention and mitigation. If you suspect that you have been a victim of fraudulent activities, take action now to protect yourself and your business.
ASAIC Roy Dotson

Two law enforcement officers have received a joint award from the International Association of Financial Crimes Investigators (IAFCI). Assistant Special Agent in Charge Roy Dotson and Special Agent James Lamerson have each won a law enforcement officer award. The two work for the Phoenix and Jacksonville field offices. They are fraud recovery experts and have recovered nearly $3 billion in CARES Act funds. Both spent nearly three decades in law enforcement and have a wealth of experience.

As a part of the ongoing pandemic fraud investigation, the Secret Service has appointed Assistant Special Agent in Charge Roy Dotson as its new national pandemic fraud recovery coordinator. The new position coordinates several ongoing investigations and large-scale seizures of illicitly obtained pandemic relief funds. The Secret Service estimates that fraudsters defrauded over $100 billion in COVID-19 aid.

The Secret Service has been assigned the task of pandemic fraud recovery in the wake of the COVID-19 outbreak. As ASAIC Roy Dotson, he will coordinate ongoing investigations with financial institutions, money services businesses, U.S. attorney offices and other federal agencies. In addition to these efforts, the Secret Service has over 900 active criminal investigations and has created a Cyber Fraud Task Force to combat cybercrime. In addition to investigating financial crimes, the Secret Service has worked with foreign law enforcement and the private sector to combat fraud.

In response to the pandemic, the Secret Service has appointed Assistant Special Agent in Charge Roy Dotson as its National Pandemic Fraud Recovery Coordinator. He is charged with coordinating multiple investigations of the Secret Service into COVID-19 relief funds. The team will coordinate efforts across the Department of Justice and U.S. attorney offices. He will also investigate Small Business Administration loan programs and unemployment insurance initiatives.
FCPA Unit

The DOJ recently unsealed a criminal complaint involving the FCPA and money laundering, involving the former account manager for Ericsson in the Horn of Africa. Afework Bereket, a former executive at the company, was implicated in a scheme to launder money by passing consulting payments to government officials in exchange for influence and business. He concealed these payments by entering into a bogus consulting contract with the husband of one official, and by concealing his ownership interest within Ericsson.

Despite the FCPA Act’s stricter rules for foreign bank accounts, the money laundering and FCPA violations of former Ecuadorian investment company manager Luis Alvarez Villamar are still a major concern. He is scheduled to stand trial for money laundering charges in February 2022, and both he and Cherrez are considered fugitives. This has made it essential to retain the services of FCPA fraud recovery experts 2021 to ensure that clients receive the justice they deserve.

The FCPA Unit’s data analytics team specializes in emerging and multijurisdictional schemes, such as cryptocurrencies. In fact, the team’s 2021 Year in Review detailed how the team used data analytics to uncover fraud. In one year, the group completed 5,327 data requests and made 385 proactive investigative referrals. That’s a lot of fraud! But how do these investigations work?

Earlier this year, the Justice Department’s Fraud Section secured $2.33 billion in criminal penalties and monetary recoveries through its FCPA Unit. In October, the United States and its Malaysian subsidiary struck a $1.3 billion settlement with Goldman Sachs Group Inc. In January 2020, Airbus SE settled with the United States for $3.9 billion. If you’re wondering how the United States can protect its investment interests in the global economy, this article provides valuable insight.
OECD Anti-Bribery Recommendation

The OECD has just released an updated version of its Recommendation on the Further Combating of Bribery of Foreign Public Officials in International Business Transactions. The original document was released in 2009, but has been undergoing review for several years. Fraud recovery and corporate compliance professionals may be interested in new sections that address the “demand side” of bribery, whistleblower protection, and public procurement, which may require enhanced scrutiny of compliance risks from contractors.

Enforcement is monitored by a Working Group of OECD member states. Its implementation is monitored and assessed through mutual evaluations by the members of the Working Group. This ensures that the OECD Anti-Bribery Recommendation remains relevant and up-to-date. In addition to peer evaluations, the Working Group has released updated versions of its anti-corruption presentation.

Fraud recovery experts have an important role to play in combating corruption. They help companies pursue international business opportunities by educating them about socially-responsible business practices, compliance, and anti-corruption policies. Through the EDC’s Anti-Corruption Policy Guidelines, it educates customers on anti-corruption best practices and shares anti-corruption brochures with new customers.

A recent evaluation of France’s implementation of the Convention on Combating Bribery of Foreign Public Officials in International Business Transactions was published by the OECD Working Group. This peer-review process focuses on each country’s enforcement of the Convention, taking into account both challenges and positive achievements. France has made significant reforms since the 2012 Phase 3 evaluation. The Working Group commended the French authorities for their efforts. www.refundee.com/crypto-scams
Secret Service CFTFs

The Secret Service is planning to bolster its fraud recovery efforts as the pandemic of 2020 wreaked havoc on the economy. The Obama administration and Congress provided trillions of dollars in relief funds, and that money is inviting criminals to prey on those in need. Earlier this year, the Secret Service announced that it had identified and seized more than $1.26 billion in fraudulent proceeds related to the pandemic. Since then, the Secret Service has named Assistant Special Agent in Charge Roy Dotson as the National Pandemic Fraud Recovery Coordinator.

The U.S. Secret Service recently assigned Assistant Special Agent in Charge Roy Dotson to the pandemic fraud recovery team, working in its Jacksonville field office. Dotson will oversee over 900 ongoing Secret Service investigations in the area. This will include investigations into COVID-19 relief applications, as well as Paycheck Protection Loans and Coronavirus Aid, Relief, and Economic Security (CARES) Act. While the Secret Service is best known for protecting political leaders, they also investigate financial crimes.

To combat this growing problem, the Secret Service is partnering with federal agencies, academic institutions, and private sector companies. Fraud recovery efforts have recovered nearly $100 billion in illicit pandemic relief funds, including unemployment insurance benefits, U.S. Small Business Administration loans, and other government assistance programs. These efforts are designed to target both federal and state programs that serve the needs of those who need financial assistance. If you’re a victim of fraud, you may want to seek help as soon as possible.

The Secret Service’s focus on this problem is a positive sign. Despite the recent scandal, it is not easy to stop the fraud epidemic. The alleged scammers are using cryptocurrency to move stolen funds to their Bitcoin wallets. The victims are mostly men and women who are used as money mules to accept the stolen benefits into their bank accounts. Then, the money is moved to other mules and routed out of the country. The Secret Service is eagerly awaiting tax season 2022 in hopes of a new wave of fraudulent scammers. The public needs to get involved and support law enforcement in this matter.