GAO Rejects Risk Assessment of HUD CARES Act Funds

Millions of Americans had trouble paying their rent or mortgages after the COVID-19 pandemic disrupted the U.S. economy. The CARES Act appropriated $12.4 billion to the Department of Housing and Urban Development to help address emergent needs.

While HUD found that CARES Act funds didn't affect program risks, a new GAO report found that assessments didn't include some leading practices for fraud risk assessment, including identifying existing programs' new fraud risks or evaluating fraud risk tolerance.

To read the full report, visit https://www.gao.gov/products/gao-21-104542.