Fraud, Waste, and Abuse

Congress introduced the Fraud Reduction and Data Analytics Act of 2015. This Act requires every agency to establish financial and administrative controls to identify, assess, monitor, and report fraud risk. The purpose of the Act is to design and implement control activities to prevent, detect, and respond to fraud and abuse, including: improper payments that include the integration and adoption of appropriate risk management processes and systems to identify risks, challenges, and potential threats. 

In addition to the Fraud and Abuse Forum conducted by ACT-IAC on July 20, 2017, we have several projects to develop white papers, as well as plans for a strategy discussion with the government.  This topic is closely aligned with our Blockchain topic as a technology to reduce fraud and abuse.

Projects

ACT-IAC Papers

Additional Resources

ACT-IAC White Paper: Unique Entity Identifiers and the Global Legal Entity Identifier (LEI): A Potential Cornerstone for Transparency of Federal Spending Data and the DATA Act

Unique Entity Identifiers and the Global Legal Entity Identifier (LEI): A Potential Cornerstone for Transparency of Federal Spending Data and the DATA Act
Developed by the Financial Management Committee, Collaboration and Transformation Shared Interest Group
Date Released: July 2015