Thing to Know Thursday: Biden’s Budget Proposes Going After Fraud

Written by obenlegal

March 9, 2023

The Run-Down: In his 2024 budget proposal, Biden plans to increase pandemic-related fraud investigations and prosecutions

  1. It suggests tripling the amount of Justice Department “strike forces” that go after criminal organizations 
  2. It also requests funding for identity theft prevention efforts 
  3. The White House believes for every dollar spent on this plan, taxpayers will see $10 back

Why You Should Care:

The crackdown on fraud isn’t going anywhere any time soon! We’ve been seeing a major shift in the White House’s priorities and this only confirms the trend is here to stay. 

The DOJ and SEC have made a very concerted effort to curb corporate and white-collar misbehavior within the past few years – making it their mission to increase investigations, and prosecutions, and ultimately hold more parties accountable than ever before.

The proof is in the pudding. There’s no more shirking responsibility over to the next person – if you are noncompliant, the government is going after you.

Ensuring your internal controls are in tip-top shape is imperative right now. It doesn’t matter the size of your company, the industry you’re in, or if you think you’re doing just enough to get by. Taking the time to create and most importantly, enforce, a robust compliance program is the key to protecting yourself and your business. 

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