Bolstering Compliance as Global COVID Fraud Enforcement Takes Shape

5 ways companies can measure and mitigate fraud risk as enforcement agencies begin to crack down

In response to COVID-19, governments across the globe have enacted substantial public sector stimulus programs to protect struggling businesses and employees. As countries begin to take steps to reopen to a post-COVID world, businesses are facing a new set of challenges as enforcement agencies are preparing to aggressively crack down on abuse of those programs.

Furlough fraud has been top of mind in that respect, but in the coming months, the enforcement lens will shift to larger businesses that have received direct-to-industry government bailouts. These larger organizations will make for more politically attractive and compelling enforcement targets. It will be critical for them to establish an unimpeachable "forensic" audit trail that demonstrates that all stimulus funds were used in accordance with their respective program's obligations.

FRA Founding Partner Toby Duthie and Associate Directors Matthew Bedan and William Mui offer five practical suggestions to help businesses measure and mitigate this risk exposure in Corporate Compliance Insights.

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