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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….
PROCUREMENT & EXPENDITURE (STOPPING KICKBACKS)
Procurement fraud usually involves inflated invoices or “fictitious” vendors.
- The Three-Way Match: Never pay an invoice unless you have matched the Purchase Order (PO), the Delivery Note (signed), and the Supplier Invoice.
- Vendor Master File Review: Review your vendor list annually. Look for suppliers with the same bank details or physical addresses as your employees.
- Dual Authorization: Implement a “Two-to-Sign” rule for all EFT payments above a certain threshold (e.g., R5,000).
- No “Cashing” of Checks: If you still use physical checks, strictly prohibit “Cash” as a payee and store blank checks in a dual-lock safe.