Federal Daily News
Database targets fraud against military community
The Consumer Financial Protection Bureau on Jan. 26 announced a new joint database aimed at making it easier for law enforcement authorities to head off financial fraud that targets military service members, vets and their families.
CFPB said that the new Repeat Offenders Against Military (ROAM) database—a joint effort with the Defense Department and state agencies—will help investigators track companies that repeatedly target the military community, often with illegal operations that cross state lines.
The bureau said that ROAM is the first central database that enables investigating officials from all levels of government to run quick searches for actions taken by federal, state and local law enforcement agencies against fraudsters who target the military.
In a news release announcing the new system, the bureau cited the example of a company investigated by New York’s state attorney general. The company operated near Fort Drum, “selling electronics to soldiers at wildly inflated prices and locking them into high-interest contracts.” On later investigation, the firm was found to be associated with other similar storefront operations that did business near military installations in six other states and overseas. CFPB noted that those links could have been identified far more quickly had the ROAM system been available at the time.
The database is slated to go live in early February, CFPB said.