Safeguarding Federal Funding with Precision and Integrity

The unprecedented level of federal funding made available through pandemic relief programs was a lifeline for millions of individuals and businesses struggling financially. However, these programs and benefits also became prime targets for high levels of fraud. The risk of improper payments skyrocketed during the COVID-19 pandemic, with federal agencies estimating approximately $247 billion in improper payments in fiscal year 2022—a dramatic increase from the $140 billion estimated in fiscal year 2017. The extent of fraud associated with COVID-19 relief programs is significant and is expected to grow as many investigations are still underway.

State Workforce Agencies’ unemployment insurance systems were particularly vulnerable during this period. At our consulting firm, we leverage big data and innovative tools to tackle these challenges head-on. Our expertise in financial and risk management has enabled us to identify over $1.1 billion in UI benefit fraud. We don’t just stop at identification; our comprehensive approach includes investigating, recovering, and preventing fraud to protect the integrity of federal funds.

Our Financial Services Risk Management consulting resources offer a powerful blend of qualitative, quantitative, and technology expertise. We help agencies and institutions drive efficiency and effectiveness across governance, risk, and compliance activities. Our subject matter experts – industry practitioners and former auditors – provide integrated risk measurement and management services. We also consider the impacts of digital transformation in the areas of risk and regulation, using AI-based tools to help identify fraud.

Through our rigorous methodologies and cutting-edge technologies, we help federal and state agencies ensure that financial assistance reaches those who truly need it while minimizing the risk of fraud and improper payments using tested and proven anti-fraud, waste, or abuse (AFWA) practices. Partner with us to safeguard your financial resources and uphold the highest standards of accountability and transparency.

IEM’s Financial and Risk Management services include:

• AFWA Program Governance and Policy
• AFWA Training
• AFWA 
• Audits and Assessments
• Fraud Identification
• Fraud Investigation Life-Cycle People, Processes, and Technology Assessments
• Risk Assessments