Bill > HR8312

This bill, the Fraud Prevention and Accountability Act, establishes new functions within the Department of the Treasury and creates a permanent government-wide Inspector General for Fraud, Accountability, and Recovery to combat fraud and ensure program integrity. Key provisions include the creation of a Fiscal Service within the Treasury to manage a "Do Not Pay" system and a voluntary government-wide data analysis program that allows federal agencies, states, and local governments to share data to detect fraud and prevent improper payments, with specific services like screening awardees against fraud databases and analyzing cyber activity related to payment information. This new Inspector General, appointed by the President, will oversee audits and investigations of how "covered funds" (a broad category including funds from major relief and infrastructure legislation, SBA loans, unemployment compensation, and federal awards over $50,000) are used, coordinate with other Inspectors General and law enforcement, and establish a public website for transparency. The bill also mandates legislative recommendations for future large spending measures to ensure existing fraud prevention mechanisms are utilized and expanded, and it transfers assets and obligations from the Pandemic Response Accountability Committee to the new Inspector General's office.