Evaluate its program’s fraud risk profile and fraud risk assessment outcomes to (1) design risk responses and specific actions for responding to fraud, and (2) develop, document, and communicate an anti-fraud strategy for employees and stakeholders that contain all key elements described in GAO’s “A Framework for Managing Fraud Risks in Federal Program” (3) monitor and evaluate fraud risk management activities to improve the organization’s fraud risk management.
Publication Report
2026-FW-1002 | March 24, 2026
The U.S. Virgin Islands Housing Finance Authority’s Fraud Risk Management Practices are At or Below The Lowest Desired Level
Fraud poses a significant risk to the integrity of federal programs and erodes public trust in government. For the U.S. Department of Housing and Urban Development’s (HUD) disaster recovery programs, fraud results in communities and individuals not… moreRelated Recommendations
Community Planning and Development
- Status2026-FW-1002-001-AOpenClosedSensitiveSensitive
Sensitive information refers to information that could have a damaging import if released to the public and, therefore, must be restricted from public disclosure.
Develop and implement a fraud risk management program with an emphasis on obtaining high-level management buy-in to ensure commitment from the board and senior management and subsequently, to ensure involvement of all levels of the program in setting an anti-fraud culture and tone to effectively combat fraud. This would include ensuring the program includes specific procedures to effectively manage fraud disclosures from employees and emphasis on reporting fraud to the HUD OIG Hotline.
- Status2026-FW-1002-001-BOpenClosed
Establish a dedicated anti-fraud component to design and oversee risk management activities within the organization and its subrecipients.
- Status2026-FW-1002-001-COpenClosed
Implement fraud risk assessment processes tailored to all levels of the program to identify and assess risks to determine VIHFA’s disaster recovery and mitigation program’s risk profile.
- Status2026-FW-1002-001-EOpenClosed
Implement fraud awareness initiatives, such as official anti-fraud training for staff and stakeholders, including subrecipients. This could include developing frequent formal communication containing newsletters or bulletins and post physical visual displays to ensure staff’s fraud awareness when conducting day-to-day activities.
- Status2026-FW-1002-001-FOpenClosed
Upon completion of recommendations 1A – 1E, assess whether VIHFA has established and implemented mature fraud risk management practices within its disaster recovery and mitigation programs.