White Collar Crime Prof blogger Ellen Podgor noted a recent article in her round up of news around the web, “A Help-Wanted Sign for Fraud Investigators”:

Recently, the Federal Bureau of Investigation announced that the number of open mortgage-fraud investigations was more than 1,600 at the end of fiscal 2008, which ended Sept. 30, compared with 881 two years earlier. In addition, 530 corporate-fraud investigations were open, it said.

The bureau is recruiting people to help with these investigations, including those with experience in computer science and accounting… Certification is a credential offered by the Association of Certified Fraud Examiners that notes proficiency and experience in fraud prevention, detection and deterrence…

The number of certified examiners is up 10 percent compared with last year, according to the association, a trade group based in Austin, Tex. Median compensation for full-time certified fraud examiners in 2008 was just over $90,000 a year, the association says.

I read the New York Times semi-religiously, but had missed the article entirely, probably because it was in the Jobs Section.

In related news, FBI Director Robert Mueller testified in front of Congress Wednesday. From USA Today:

Lawmakers prodded Mueller to move faster to bring charges against suspected swindlers in the wake of the global economic collapse.

"I get the question all the time, ‘What’s going on? Where’s the accountability? Who’s going to jail?’," Sen. Arlen Specter, R-Pa., said at a hearing of the Senate Judiciary Committee.

Mueller had just finished explaining that the bureau has seen its mortgage fraud cases balloon to more than 2,000, in addition to more than 566 open corporate fraud investigations.

Lawmakers urged him to hurry up and act to show that the government is aggressively policing Wall Street.

"What can we do to expedite the investigations, prosecutions?" asked Specter.

Agents are working with federal prosecutors "for what we call fast-track prosecutions in a number of areas," Mueller answered.

Any thought being given to the kind of careful investigation that only roots out the truly culpable?

Let’s see. Inexperienced investigators, fast track prosecutions and a politician’s insatiable desire to jail someone, anyone, so he can keep his job… sounds more like a recipe for reasonable doubt. At least they are going on record beforehand.