FedScoop: Pandemic Analytics Center of Excellence will help IGs investigate fraud

“The committee of federal watchdogs tasked by Congress to oversee emergency pandemic spending is developing a center of excellence that uses data analytics to combat COVID-19 relief fraud.

The Pandemic Analytics Center of Excellence, created by the Pandemic Response Accountability Committee (PRAC), will provide the federal inspectors general (IG) community with fraud-fighting tools allowing them to share data analytics and practices to assist with their audit and investigative work.

So far IGs have only managed to return or seize $2.5 billion of the $84 billion in potential fraud committed between the Small Business Administration‘s Paycheck Protection Program (PPP) and Economic Injury Disaster Loan (EIDL) program, according to a memo released by the House Select Subcommittee on the Coronavirus Crisis on Thursday.

‘In order to fulfill the PRAC’s mission we need better technological tools for IGs and our oversight partners, including the use of advanced data analytics,’ said PRAC Chair Michael Horowitz, IG of the Department of Justice, during a subcommittee hearing the same day.

The Coronavirus Aid, Relief, and Economic Security (CARES) Act created PRAC, which is comprised of 22 IGs from across government who are charged with seeing to it that federal funds, like those in the CARES Act and the American Rescue Plan Act, are spent properly. The committee is working with the Office of Management and Budget and other agencies to address fraud data gaps…” Read the full article here.

Source: Pandemic Analytics Center of Excellence will help IGs investigate fraud – By Dave Nyczepir, March 25, 2021. FedScoop.

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