A group of distinguished academic and legal professionals from throughout the world gathered recently to discuss current enforcement efforts against white collar crime. According to those attending this meeting, these enforcement efforts are failing to properly hold those who are accused of committing these crimes accountable for their actions. As a result, these professionals contend that enforcement efforts are failing to properly deter these crimes.
It is not uncommon for federal regulators to make use of whistle-blowers to help prosecute allegations of securities fraud. In a new twist, some states are looking to use these informants as well.
The Treasury Department is cracking down on money laundering. The agency is investigating New York luxury real estate purchases made in cash through shell companies. The effort is not a new one. However, according to a recent report by The New York Times, the examination was recently expanded.
Medicaid fraud is, essentially, the illegal practice of seeking payment from the Medicaid system. The Obama Administration aimed to reduce Medicaid fraud throughout the country. Although a noble goal, there are concerns that the methods used could result in false allegations of fraudulent practices by medical professionals.