President Donald J. Trump's Administration is Fighting Fraud on Consumers, Investors, and Markets | Eastern North Carolina Now

Press Release:

    "Our obligation is to serve, protect, and defend the citizens of the United States."   -   President Donald J. Trump

    A TASK FORCE FOR COMBATING FRAUD: President Donald J. Trump is establishing a task force to promote market integrity and to combat consumer fraud.

           •  President Trump is signing an Executive Order that will establish a Task Force on Market Integrity and Consumer Fraud (Task Force) within the Department of Justice.

                •  Senior officials from the Department of Justice, Federal financial regulators, and across the Cabinet will participate in the Task Force.

                •  The Task Force replaces the Financial Fraud Enforcement Task Force established in 2009.

           •  The Task Force will provide the President with recommendations on regulatory and legislative changes needed to improve the investigation and prosecution of fraud and other financial crimes that cause harm to American consumers, investors, and markets.

           •  The Task Force will also make recommendations to President Trump to enhance cooperation among agencies in their efforts to investigate and prosecute fraud.

           •  The Executive Order places new emphasis on the growing problems of cyber fraud and fraud targeting the elderly.

    PROTECTING AMERICAN CONSUMERS: President Trump's Administration is committed to protecting consumers from fraudulent actors.

           •  President Trump's Administration has no tolerance for those who would harm consumers and investors, and will continue to prosecute fraud to the full extent permitted by law.

           •  Our financial markets work best to promote economic growth when they are not distorted by fraudulent activities.

                •  Consumers and investors should be able to participate in a fair marketplace that rewards sound economic decisions, not fraudulent activity.

           •  President Trump's Administration is working to counter the growing threat of fraud committed against the elderly.

                •  In February 2018, the Department of Justice announced the largest coordinated sweep of elder fraud cases in history, cracking down on financial schemes that targeted or largely affected the elderly.

                •  The sweep involved more than 250 defendants around the world who victimized more than one million Americans, most of whom were elderly.

           •  Under President Trump, the Department of Justice has taken actions to combat cyber fraud, which victimizes far too many American consumers and businesses.

                •  In February 2018, the Department of Justice announced the indictment of 36 cyber criminals in the United States and 17 other countries in one of the largest cyber fraud enterprise prosecutions ever.

                •  The indicted individuals led an international cyber fraud ring, responsible for over $530 million in losses to United States financial institutions, merchants, and consumers.

           •  President Trump is committed to continuing the fight against healthcare fraud, fraud on government programs, and corporate fraud that harms American consumers and investors.

• Contact: White House
•     Press Office