Nearly two-thirds of business professionals hailing from a wide range of industries felt that the Fraud and Investment Recovery Act would be effective in boosting the total dollar amount the government will be able to recoup under the False Claims Act.
Roughly 800 professionals were surveyed during a recent webcast hosted by Big Four firm Deloitte.
A majority of business professionals (64 percent) polled during a recent Deloitte webcast think the Fraud Enforcement and Recovery Act will be effective in increasing the total dollar amount the government will recover under the False Claims Act.
Enacted in May, the Federal Fraud Enforcement and Recovery Act of 2009 expanded the scope of the False Claims Act, the statute that imposes liability on businesses and people for knowingly making false statements or false claims for payment of government funds.
Survey respondents indicated their greatest concerns under the Fraud Enforcement and Recovery Acts enforcement changes are: an expanded universe of companies potentially liable for FCA violations (24 percent); increased consequences of failing to return overpayments to the government (13 percent); extended whistleblower protections to non-employees (12 percent); and revived government ability to use Civil Investigative Demands (11 percent).
Those participating in the poll expected that the financial services (44 percent) and health care and life sciences (23 percent) industries would see the highest increase in litigation resulting from increased Fraud Enforcement and Recovery Act, as well as FCA enforcement activity.
