It used to take 90 days before the government detected a scam. By then, the crooks were long gone, sometimes with millions of dollars. Now authorities get billing data as it’s submitted, allowing them to catch suspects in real time, “as opposed to the typical pay and chase model we’ve had for years,” said Gerald Roy, assistant inspector general for investigations.

Detroit is one of 5 cities involved in the largest ever Medicare fraud bust.

Read the entire article here.

We recieved this White Paper from our friends at Deloitte Financial Advisory Services about setting up Fraud Management Response protocols and systems.  A good quick read:

An organization that invests in a fraud response management assessment could see cost savings and return on investment in the form of:

• More efficient use of resources
• Lower investigative costs
• Loss recovery and prevention
• Increased detection of internal and external fraud
• Lower compliance risk
• Enhanced tracking metrics

The potential value of an effective fraud response management program can be realized in different ways and across various industries.

Full Report:

FRM Whitepaper June 2009.pdf (191.81 kb)