Sec. 4. Fraud risk management
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Section 722 of the Defense Production Act of 1950 ( 50 U.S.C. 4567 ) is amended— in subsection (d)— in paragraph (5), by striking and at the end; in paragraph (6), by striking the period at the end and inserting ; and ; and by adding at the end the following new paragraph: a summary of any steps taken to reduce fraud in transactions under this Act and a fraud risk assessment for all activities under undertaken under this Act. ; by redesignating subsection
(e)as subsection (f); and by inserting after subsection
(d)the following new subsection: Not later than 1 year after the date of the enactment of this subsection, the Committee shall— establish and implement processes and procedures consistent with leading practices included in the publication of the Comptroller General of the United States titled A Framework for Managing Fraud Risks in Federal Programs (GAO–15–593SP; published July 28, 2015) to combat fraud in transactions undertaken under this Act; train personnel about the standards and practices established and implemented under paragraph (1); and designate a point of contact within the Committee to be responsible for managing issues relating to fraud, including coordinating with agencies to review fraud-related issues. .
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Sec. 4
Fraud risk management
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