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Justice Department to set up new federal fraud section.   DOJ already has a consumer protection branch of its Civil Division, and that unit can also do criminal cases. And it has a Criminal Division.  Presumably this new unit is designed to tackle benefit fraud. But will this new unit include consumer fraud?

Aspen Institute releases survey the did in the US on consumer fraud

  • 33% of US adults were victims of a fraud last year
  • Losses were $42.7 billion; average loss $2499
  • 10% of US adults lost money to more than one scam last year
  • Only 1 of 12 reported this to police or law enforcers
  • Many people felt blamed by banks or other institutions

GAO finds that one third of federal agencies lack fraud monitoring or evaluation; easier to prevent fraud than prosecute afterwards; losses to fraud estimated at between $233 and $521 billion per year

Full report here