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South Florida is #1 for mortgage fraud

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South Florida is first in the country for the number of mortgage fraud suspicious activity reports per capita, according to a new report from the Financial Crimes Enforcement Network. The region, which recorded 11,833 such reports last year, also leads the nation in Medicare fraud and auto insurance fraud. It ranked third for mortgage fraud reports by volume, behind New York and Los Angeles. Amongst counties, Miami-Dade County was first in the U.S. on a per capita basis, followed by Broward County. Overall, mortgage fraud reports rose significantly in 2010, with 70,472 reports filed last year, up from 57,507 in 2009. There’s a lag time of approximately two to four years between the actual fraudulent activity and the filings. [SFBJ]

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