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And yet, the federal government's ability to investigate and prosecute these frauds is severely hindered by outdated laws and a lack of resources.
WHITEHOUSE: President Obama: Reform for Homeowners
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If America is to be the land of innovation then we must start doing away with outdated laws and ensure that new ones are necessary, specific and clear.
FORBES: Does the Government Hurt Innovation?
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Lord Browne of Laydton pledged Labour's support for the bill "to the extent it seeks to reform our outdated libel laws".
BBC: Defamation Bill
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In the hubs of technology and commerce, like San Francisco and New York, growth is hampered by expensive rents, living expenses, and start-up costs, often stemming from restrictive building codes and outdated zoning laws.
FORBES: Why America Needs To Be An Innovation Nation
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The EC's Directorate General for Health and Consumers says existing laws are outdated and need to be changed.
BBC: Planned new European laws 'threaten' rare seeds
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It resulted in 20 reports to bolster outdated and inadequate campaign and ethics laws, many of which resulted in no legislation.
WSJ: Cuomo says overhaul of NY ethics needed _ again
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He also recommends the government backs the changes with new legislation to replace laws which are virtually unchanged since 1947 and "hopelessly outdated".
BBC: Interim Bain review at a glance
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Current laws under which the victims of historic child abuse can achieve justice are outdated and inflexible, a Scottish minister has said.
BBC: Historic abuse law 'inflexible', says Scottish minister