Jerry Petersen
Government loan, grant and fraud management platform provider Allocore has released a report titled “Accelerating the Fight Against Fraud,” which tackles the findings from the company’s recent Fraud Prevention Roundtable.
Fraud in Federal Programs
Allocore said Thursday that the roundtable saw key panelists deliver presentations on the issue of fraud in federal programs, which, according to a Government Accountability Office estimate, results in up to over $500 billion in waste each year. Among the presenters were Ken Dieffenbach of the Pandemic Response Accountability Committee, Paul Benda of the American Bankers Association and Ben Wallace, Allocore founder and executive chair.
The event also saw participation from fraud experts from various sectors.
Proposed Solutions
To address the problem, the participants proposed various solutions, including the use of artificial intelligence to detect fraud, legislative reform to facilitate data sharing while preserving privacy protections and the establishment of an entity that would coordinate anti-fraud efforts across the government.
The recommendations are detailed in the report.
Urgent Need to Act
Regarding the report’s issuance, Wallace said, “The message from our roundtable was crystal clear: Fraud prevention in government can no longer be reactive. We have the technology, the expertise, and the urgency—now we need the will to act.”
“We owe it to taxpayers to move at the speed of crime, not the speed of bureaucracy. This report is a roadmap for making that happen,” Allocore’s founder added.
