New York, NY – The Federal Bureau of Investigation and the Justice department are largely abandoning a brief experiment with farming out complex white-collar fraud investigations to offices across the country and steering them to New York and a few other large jurisdictions.
New York has always been a top location for white collar crime cases because it is the US’s financial capital. But when officials in Washington have to make a choice between jurisdictions, New York is now receiving more assignments, said Teresa Carlson, the assistant special agent in charge of white-collar and cybercrime in the New York field office.
“We have more people working white-collar crime than any other criminal violation,” she told the Financial Times. “The personnel and the expertise are here.”
The office is taking the lead in examining crime problems that could be posed by institutional investors. “We try to look at what the future crime problem is,” Ms Carlson said. “We do threat assessments and right now [the top threat] seems to be hedge funds.”
About 170 of the nearly 1,000 FBI agents in New York work on white-collar crime, including many of the bureau’s experts on financial documents and accounting.
New York also has the advantage of having two prosecutors’ offices: the southern and eastern districts. [Msnbc]