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Press Release

United States Attorney Examines Financial Fraud

For Immediate Release
U.S. Attorney's Office, Northern District of Iowa

CEDAR RAPIDS, IA – United States Attorney Kevin W. Techau convened a second financial fraud training session today in Dubuque developed to examine various fraudulent schemes in an effort to strengthen prevention and detection efforts.  The training brought together area financial institutions together with local, state and federal law enforcement partners. The first meeting was convened last week in Cedar Rapids with a future meeting scheduled in Waterloo on March 2nd.  The Dubuque Financial Liaison Group assisted with organizing the training.

United States Attorney Kevin W. Techau stated, “Financial frauds are a serious crime that can result in federal prison time.  Federal, state and local law enforcement agencies treat financial crimes very seriously.”  Techau also noted, “The financial crimes training session will serve to strengthen communication between law enforcement, local banks and credit unions to protect the public and businesses in the greater Dubuque area.  We caution anyone considering this type of criminal activity to reconsider.”

Bringing the partners together to discuss the types of fraud impacting banks, credit unions, local businesses and citizens strengthens the connections necessary to effectively respond.  Without a coordinated approach, those who engage in fraudulent practices may go undetected.  With a coordinated approach, prevention efforts are strengthened.

Representatives from the Federal Bureau of Investigation, U.S. Secret Service and Postal Service, and the Internal Revenue Service discussed their areas of expertise and current trends.  The Dubuque County Attorney’s Office focused on responding to signs of fraud to include elder abuse, counterfeit financial instruments and other common schemes seen locally.  A bank insider crime case study was examined by an Assistant United States Attorney.

With all of the parties detailing their role and responsibilities to combat these crimes, they developed a better understanding of how to work more effectively together to prevent and detect fraudulent practices and engage prosecutors to hold those who commit the crime accountable.

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Updated February 23, 2016

Financial Fraud