Fraud By The Numbers Series
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Private Equity Will See You Now
Despite growing public concern, expansion of private equity into healthcare continues. In its 2024 annual report, Bain reported global private equity investment in healthcare entities of $105 billion in 2020, $202 billion in 2021, $98 billion in 2022, and $67 billion in 2023. Private equity has invested more than $1 trillion in healthcare entities in…
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Why Is the Government’s Best Weapon Against Fraud So Rarely Deployed to Combat Defense Fraud
Sometimes the numbers don’t add up. Like when we’re talking about fraud involving the Department of Defense (DOD). In Fiscal Year (FY) 2022: – “DOD obligated[1] more money on federal contracts ($415 billion in current dollars) than all other government agencies combined spent on contracts.” – Five companies (Boeing, General Dynamics, Lockheed Martin, Northrup Grumman,…
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PPP Fraud: Big Numbers, Bigger Numbers to Go
We remember the onset of the pandemic all too well. Not only were the health concerns and consequences for the United States real and profound, but measures to protect the health of the population risked extreme economic consequences. Congress acted swiftly to prevent the worst consequences, appropriating $2.2 trillion within weeks through the Coronavirus Aid,…
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Whistleblowers had tremendous victories in 2023—and their numbers are rising
Last year in Fraud by the Numbers, we began our look at the 2022 U.S. Department of Justice (DOJ) annual statistics on settlements and judgments under the False Claims Act by observing that the government has been recovering less money through qui tam actions than it did several years ago. This year, we are pleased…
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The Impact of Cyber Risks on U.S. Markets and Investors
Cyber-attacks and data breaches can wreak havoc on companies and investors alike including financial, legal, operational, and reputational damage. As an illustration, on July 12, 2024, AT&T announced an update regarding the massive customer data breach, which included information that “was illegally downloaded from our workspace on a third-party cloud platform.” In the wake of…
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Breaking Down the Government’s Estimate of Fraud
Welcome to The Anti-Fraud Coalition’s Fourth Annual Fraud By The Numbers! In years past we have used concrete numbers from budgets, recoveries under various whistleblower programs, and anything quantifiable we could find to show how fraud impacts us. This year, for the first time ever, we actually have the federal government’s estimate of how much…
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Fraud By The Numbers 2023 – Sept. 30
Over the last thirty days, Fraud By The Numbers has spotlighted fraud schemes targeting government dollars and the financial markets. These 30 blog posts have evidenced the fraud-fighting impact of whistleblowers and whistleblower reward programs. The numbers reveal the truth about fraud. Indeed, some trends have emerged. But what trend stands out? The answer: Relatively…
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Fraud By The Numbers 2023 – Sept. 29
Fiscal Year 2022 saw the most new cases filed under the False Claims Act in the Law’s modern history. Does the DOJ have the resources to handle the job? One aspect of the Department of Justice’s efforts to fight fraud stands out as being far more active in recent years. DOJ is now initiating more…
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Fraud By The Numbers 2023 – Sept. 28
Opponents of the False Claims Act (FCA) and other whistleblower programs often deride whistleblowers as disgruntled employees or those just looking to make a buck, but the fact is that whistleblowers uncovering fraud on the government and financial markets do not stand to profit anywhere near as much as the corporations behind the fraud schemes…
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Fraud By The Numbers 2023 – Sept. 27
In his recent dissent in U.S. ex rel. Polansky v. Executive Health Resources, Justice Clarence Thomas suggested that qui tam actions, allowing private individuals to represent the government in litigation, might be unconstitutional. Seizing upon Justice Thomas’ speculation, False Claims Act defendants have intensified constitutional challenges to the qui tam provisions even though the issue…
