Computer Generated Check Fraud: Hearing Before the Committee Banking and Financial Services, U.S. House of Representatives

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Michael N. Castle
DIANE Publishing, 1997 - 96 pages
Hearing held by the Subcommittee on Domestic & International Monetary Policy, House Committee on Banking & Financial Services. Witnesses: Kevin T. Foley, Deputy Assist. Dir. -- Office of Investigations, U.S. Secret Service, Dept. of the Treasury; Edwin B. Greene, Chmn., U.S. Check Co., Inc.; Boris Melnikoff, Sr. V.P., Wachovia Corp., on behalf of the Amer. Bankers Assoc.; Charles L. Owens, Chief, Financial Crimes Section, FBI; & Erik Stein, V.P. & Manager, Risk Management Admin., Great Western Bank, on behalf of the Consumers Bankers Assoc.
 

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Contents

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Page 61 - The Consumer Bankers Association is the recognized voice on retail banking issues in the Nation's capital. Member institutions are the leaders in consumer...
Page 68 - HOUSE OF REPRESENTATIVES, SUBCOMMITTEE ON DOMESTIC AND INTERNATIONAL MONETARY POLICY, COMMITTEE ON BANKING AND FINANCIAL SERVICES, Washington, DC. The subcommittee met, pursuant to notice, at 11:07 am, in room 2128, Rayburn House Office Building, Hon.
Page 22 - Thank you, Mr. Chairman and members of the subcommittee, for giving us the opportunity to comment on the proposed Omnibus Civil Service Reform Act of 1996.
Page 34 - Since its inception in 1865 the secret service has been involved in the investigation of counterfeit monetary instruments which affect the integrity and well being of this nation's financial and payment systems.
Page 34 - ... United States attorneys are authorized by law to conduct or perform whether or not the attorney is a resident of the district in which the proceeding is brought; and (3) law enforcement personnel of the United States Secret Service are authorized, subject to the supervision of the Attorney General, to conduct or perform any kind of investigation, civil or criminal, related to fraud or other criminal or unlawful activity in or against any federally insured financial institution...
Page 45 - OF CHARLES L. OWENS, CHIEF, FINANCIAL CRIMES SECTION, FEDERAL BUREAU OF INVESTIGATION Mr.
Page 3 - I would ask that my written statement be submitted for the record and I would be pleased to answer any questions that you might have.
Page 51 - Nigerian rings have been opening investment accounts within various brokerage houses, depositing large sums of money with stolen and counterfeit corporate checks. Most west coast Asian gangs began to organize their bank fraud activities during the 1980s and have continued to expand and develop these sometimes sophisticated operations. Many such groups originated in Taiwan, Hong Kong and Vietnam and include the Viet Chung, the Big Circle Boys, the V-Boyz.
Page 39 - An integral part of this strategy is a "proactive risk analysis" of our financial systems. This is accomplished through regular interaction between law enforcement officials and individuals in the financial system and industry. This interaction, we believe, must occur on a local, national and international basis. There are a multitude of organizations which have been active in this arena. Groups such as the International Association of Financial Crime Investigators...

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