Strengthening enforcement cooperation on cross-border fraud matters, the Federal Trade Commission has signed a memorandum of understanding (MOU) with the Royal Canadian Mounted Police (RCMP).

The agreement will enhance the ability to share information and engage in joint investigations, the agencies said, and confirm "that the enforcement challenges of combatting [fraudulent and deceptive commercial] practices go[es] beyond national frontiers and that cooperation between national authorities is essential to fight such practices."

Coordination between civil and criminal agencies "may provide complementary approaches to serious economic crime, including mass marketing fraud, through information and intelligence sharing and cooperative enforcement," according to the MOU.

The parties agreed to meet at least once a year and participate in periodic teleconferences to discuss ongoing and future opportunities for cooperation. The MOU took immediate effect and will remain in force for five years.

"This MOU will strengthen our efforts to combat cross-border fraud and protect both U.S. and Canadian consumers," acting chair, Maureen K. Ohlhausen said in a statement. "This will expand our areas of cooperation and our ability to share information and conduct joint investigations."

To read the MOU between the FTC and the RCMP, click here.

Why it matters: The FTC and the RCMP already work together on issues such as telemarketing fraud and providing redress for victims of international schemes, the agencies noted, and the MOU recognizes the partnership history between the two agencies, such as a 2015 case involving cross-border telemarketing fraud targeting seniors and a 2016 case that yielded $1.87 million for the victims of a debt relief scam.