White collar fraud up due to recession

According to Robert Rahn, President of Management Resources LTD of New York , the amount of white collar fraud being committed has risen due to the recession. Below is a quote from a recent press release from Mr. Rahn.

"Robert Rahn, President of Management Resources LTD of New York - an Orange County civil and criminal investigative firm - has seen a leap in regional white-collar fraud. In the past 12 months his firm has been retained to conduct over 300 mortgage fraud investigations, a 100% increase from 2007. Whether these cases are a result of 'hard fraud' (for profit) or 'soft fraud' where applicants fudge numbers to meet requirements for loan applications, the trend is not a good one.

'Unfortunately this is nothing new. As the economy goes downhill, the crime rate historically rises,' says Rahn, a former NYPD Lieutenant, whose 20 year law enforcement career includes a stint as a homicide detective. Per Rahn, the situation is so bad that the FBI is now, for the first time since 9-11, assigning Federal agents to look into mortgage frauds across the country.

When retained for a mortgage fraud investigation, Rahn's team conducts borrower interviews, looking at basic information verification, including: the applicant's job data, their income and bonuses, assets or liabilities, as well as onsite property inspections. According to Rahn, whose firm also regularly works with businesses, attorneys and private clients, consumers ultimately pay for fraud through higher premiums, so it's not just the insurance companies who are suffering (from fraud losses)."

Read the full press release here - http://www.prweb.com/releases/private-investigators/mortgage-fraud/prweb2482024.htm.