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Highlights

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.

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Recommendations

Matter for Congressional Consideration

Matter Status Comments
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.
Closed - Not Implemented
The reduction of bank and thrift fraud on the national agenda makes this recommendation no longer applicable.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.
Closed - Not Implemented
The reduction of bank and thrift fraud on the national agenda makes this recommendation no longer applicable.

Recommendations for Executive Action

Agency Affected Recommendation Status
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.
Closed - Implemented
Information on these issues has been collected and published in DOJ's quarterly report to Congress.
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.
Closed - Implemented
The Special Counsel's survey results and review of this issue have not identified a need for formal interagency agreements.

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