In Washington, it often seems that forming a new task force falls somewhere between convening a blue-ribbon panel and conducting a fact-finding mission on the list of things to do when you need to look like you’re doing something.
The November announcement of the new Financial Fraud Enforcement Task Force, however, may not merit the usual skepticism. With representatives from 23 federal agencies, plus relevant inspectors general, the task force clearly has great breadth. More importantly, it has ample funding. The Fraud Enforce- ment and Recovery Act (FERA), enacted in May, devotes substantial new resources to financial crime enforcement.
