A newly introduced bipartisan bill in the Senate (S-2133) would require federal agencies to conduct regular fraud risk assessments and to develop new financial controls to prevent fraud.
The measure also would require agencies to share anti-fraud best practices, promote the use of data analytics similar to those used by credit card companies to spot patterns of fraud, and require regular reports to Congress about agency progress in combatting fraud.
The plan arises out of a series of hearings in the Homeland Security and Governmental Affairs Committee and co-sponsored by that panel’s leaders; many of the specifics reflect recommendations by GAO and seek to apply private sector practices to the government.
