105 Charged in Wide-Spread Florida Mortgage Fraud

RealEstateChannel.com reports that The Justice Dept. has charged 105 mortgage company representatives, brokers and other individuals in fraudulent schemes that have netted them $400 million in loans on 700 properties in Florida. In the four Florida markets targeted by federal and local law enforcement agencies over a nine-month period, 32 defendants are from Fort Myers, 30 from Tampa, 24 from Jacksonville and 19 from Orlando. Alex Finkelstein reports that this investigation was launched in late January 2009

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Bankers Take Aggressive Approach to Fight Money Laundering

Florida bankers have banded together to fight against money laundering and terrorists acts.

Marketwatch: The word is out in the banking industry - the Florida International Bankers Association (FIBA), Inc. offers top-notch, cost-effective training and certification in the prevention of money laundering and terrorist financing. In fact, FIBA has just finished training its first wave of Latin American bankers who came to the U.S. to get certified.

It sounds like a great name, though a bit like the Justice League; however, who is going to pay for this new endeavor? The weakened federal and state economies have little resources to begin new initiatives--especially with those that may endanger national security by attempting to foil money plots. Hmm...

Well good luck, Florida! Get back to us when you get the bad guys.

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