GAO’s reports and testimonies give Congress, federal agencies, and the public timely, fact-based, non-partisan information that can improve government operations and save taxpayers billions of dollars.
GAO previously reported on how large information resellers like consumer reporting agencies obtain and use Social Security numbers (SSNs). Less is known about information resellers that offer services to the general public over the Internet.
In light of the passage of the 1999 Gramm-Leach-Bliley Act and increased competition within the financial services industry at home and abroad, GAO was asked to report on the current state of the U.S. financial services regulatory structure.
One in eight Americans are entitled to unclaimed and abandoned assets, according to the National Association of Unclaimed Property Administrators. These unclaimed and abandoned assets include savings and checking accounts, securities, paychecks, insurance settlements, and utility and rental deposits.
This report provides information on (1) the efficacy and adequacy of remedies provided by the Gramm-Leach-Bliley Act of 1999 in addressing attempts to obtain financial information by false pretenses and (2) suggestions for additional legislation or regulatory action to address threats to the privacy...
The sharing of regulatory and criminal history data among financial services regulators can reduce fraudulent activities. GAO recently reported on several instances in which unscrupulous brokers moved from one financial industry to another.
This report discusses possible money laundering by U.S. corporations formed by Russian entities. It is easy for foreign entities to hide their identities while forming shell corporations that can be used for money laundering.
Pursuant to a congressional request, GAO reviewed issues relating to mutual fund fees, focusing on: (1) the trend in mutual fund advisers' costs and profitability; (2) the trend in mutual fund fees; (3) how mutual funds compete; (4) how fees are disclosed to fund investors and how industry participants...
Pursuant to a congressional request, GAO reviewed the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) and the issues the two have in relation to the Shad-Johnson Jurisdictional Accord, focusing on: (1) the extent to which U.S.