Fraud Prevention and Recovery Act

The Fraud Prevention and Recovery Act establishes a $600 million Identity Verification, Payment Integrity, and Victims of Identity Fraud Fund to develop systems preventing fraud and assist victims. It provides $100 million for the Small Business Administration Inspector General and $150 million for the Department of Labor Inspector General to investigate pandemic-related fraud cases. The bill also creates a $300 million fund for DOJ to establish strike forces targeting fraud in pandemic relief programs like the Paycheck Protection Program. Additionally, it amends the Administrative False Claims Act to increase penalties and improve recovery of fraudulently obtained funds across federal programs.