Lubbock Times

WASHINGTON, D.C. – Yesterday, the Government Accountability Office (GAO) unveiled a first-ever fraud estimate report across all government programs. According to the report, the federal government faces estimated annual financial losses due to fraud ranging from $233 billion to $521 billion. These losses stem from various fraud risks within federal programs and operations, underscoring a critical need for enhanced fraud risk management and prevention strategies.

In response to the report, House Budget Committee Chairman Jodey Arrington (R-TX) released a statement, saying, "To restore fiscal responsibility to Washington, we must root out the rampant fraud and abuse of a wasteful and bloated bureaucracy." Chairman Arrington highlighted the urgency of addressing the issue, stating, "GAO's latest alarming report, which found that up to half a trillion in taxpayer dollars are squandered annually, underscores the urgency of the work the House Budget Committee and United States House is conducting to rein in waste, fraud, and abuse."

Last month, GAO released a report estimating FY2023 improper payments to be roughly $236 billion. Budget Committee Chairman Jodey Arrington and Oversight Committee Chairman James Comer, co-leads of the Improper Payments Working Group, released statements on the report.

The Government-wide fraud estimate report and information on FY2023 improper payments can be found on the GAO website.

This report sheds light on the significant financial losses the federal government faces due to fraud, emphasizing the critical need for robust fraud risk management and prevention measures to safeguard taxpayer dollars.