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Vice President JD Vance on Friday hosted the first anti-fraud task force meeting, where he delivered opening remarks saying the Biden administration “turned off” anti-fraud protections that “existed in our government for a very long time.”
Vance was joined by Cabinet and administration officials, including White House deputy chief of staff for policy Stephen Miller, Federal Trade Commission Chair Andrew Ferguson and Department of Homeland Security Secretary Markwayne Mullin. The vice president, Ferguson and Miller delivered brief opening remarks before the meeting was closed to the press to further privately discuss their planned actions to combat fraud nationwide.
“We think fraud has been a problem for a long time,” Vance explained. “It became a massive, massive problem under the Biden administration. We’re going to do a number of things….
This type of fraud targets the supply chain and accounts payable departments of businesses.
- Invoice Manipulation: Criminals intercept a legitimate invoice between a supplier and a client and change the banking details to their own. The client pays the bill thinking they are paying their trusted vendor.
- Kickbacks and Bribery: A vendor secretly pays an employee of the purchasing company to ensure their bid is successful or to overlook inflated pricing.