Pursuant to a congressional request, GAO provided information on federal efforts to investigate and prosecute financial institution fraud, focusing on: (1) implementation of Crime Control Act of 1990 provisions; and (2) the Department of Justice's (DOJ) efforts to address bank and thrift fraud.
Matter for Congressional Consideration
|Congress should explore the need and ways to integrate DOJ and non-DOJ agencies more fully into the national effort. In this regard, dedicating resources to identify and investigate financial institution fraud could be one mechanism to consider.||The reduction of bank and thrift fraud on the national agenda makes this recommendation no longer applicable.|
|Congress should explore whether legislative action is required to clarify the authority and role of the Office of Special Counsel.||The reduction of bank and thrift fraud on the national agenda makes this recommendation no longer applicable.|
Recommendations for Executive Action
|Department of Justice||1. The Attorney General should direct the Special Counsel to develop systematic information on the adequacy of Federal Bureau of Investigation and U.S. Attorney staffing, determine where and how many non-DOJ staff resources are needed, and develop measures for gauging the overall effectiveness of the government's response.|
|Department of Justice||2. The Attorney General should assess whether additional action is needed, including entering into formal interagency agreements to ensure that adequate non-DOJ agency resources are committed to this effort, and notify Congress of those findings.|