Good morning and welcome to our panelists.
I appreciate Chairman Bennett calling this hearing. Just recently in my state of Nebraska the issue of financial fraud was elevated in importance and profile. Obviously the number of these types of crimes is increasing as common criminals get access to high tech equipment. Their ability to access these high tech tools is impossible to control because they are items used everyday by the legitimate business community. We must find methods of law enforcement that make the criminal pay a heavy price for committing these crimes.
When financial fraud is perpetrated on any of us it hits us in two vulnerable areas of our lives: our identities and our pocketbooks. As we will hear from the witnesses who have experienced this firsthand, this can be a traumatic event in one's life. In the past many of these crimes were considered victimless and therefore were seen as of little importance. As we will hear today, they are not victimless crimes.
I look forward to the testimony and hearing from law enforcement as to the
adequacy of the current laws governing financial fraud.
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