The FBI says the subprime mortgage crisis is feeding a booming business for fraudsters. The Bureau’s Subprime Mortgage Industry Fraud Initiative is investigating 14 corporations involved in subprime lending—including mortgage lenders and investment banks that bundle loans into securities sold to investors.

At the end of January, the FBI said it was investigating 1,200 open cases involving subprime lending, a 40% year-over-year increase. Many of these cases involve fraud for profit, where groups of straw buyers or realtors rig schemes to buy properties that are flipped or allowed to go into foreclosure. Suspicious Activity Reports (SARs), which were reviewed for potential mortgage fraud, grew from 3,000 in fiscal 2003 to 48,000 in fiscal 2007. SARs are on pace to top 60,000 in the current fiscal year.

More information and statistics on the FBI’s enforcement efforts in this area are available at


Year-end tax planning and what’s new for 2016

Practitioners need to consider several tax planning opportunities to review with their clients before the end of the year. This report offers strategies for individuals and businesses, as well as recent federal tax law changes affecting this year’s tax returns.


News quiz: Retirement planning, tax practice, and fraud risk

Recent reports focused on a survey that gauges the worries about retirement among CPA financial planners’ clients, a suit that affects tax practitioners, and a guide that offers advice on fraud risk. See how much you know with this short quiz.


Bolster your data defenses

As you weather the dog days of summer, it’s a good time to make sure your cybersecurity structure can stand up to the heat of external and internal threats. Here are six steps to help shore up your systems.