Convicted swindler Bernie Madoff was no terrorist in the traditional sense, but he did terrorize many clients by robbing them of their finances and psychological security.
Hoping to spot financial scandals before they get too far — or too Madoff-like — the FBI in New York is increasingly employing the same tools and tactics it uses in terrorist investigations to unearth the evil doings of white-collar thieves and inside traders, The Wall Street Journal reports.
“We’re trying to apply the principles of the national security side so we can prevent something from becoming a $50 billion fraud by catching it early on,” James Trainor, a special agent in charge of the FBI’s Intelligence Division in New York, told the Journal.
The FBI in New York hopes to apply the tactics it uses in terrorist investigations to nab financial criminals, like Bernie Madoff.
The FBI said some of those tools include expanding its network of human sources — a key ingredient in fighting terrorism — who are willing to tip off or guide authorities in probes, the Journal reported. The FBI is also planning to use more intelligence reports and so-called trip-wire programs, things people should be on the lookout for when something seems a little fishy in the financial world.
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