Analysis: No 'unincentive' to commit small biz fraud
Tuesday - 11/8/2011, 7:04pm EST
Guy Timberlake, co-founder, American Small Business Coalition
Inspectors general from the General Services Administration and the Small Business Administration say the federal government does not have strong enough deterrents to fight small business contracting fraud.
Guy Timberlake, co-founder and chief visionary officer at the American Small Business Coalition, tells In Depth with Francis Rose why oversight in place now is not enough.
Currently, dishonest companies that commit fraud to get set-aside contracts do not have "much of an unincentive" to commit fraud, Timberlake said.
The inspectors general at SBA and GSA suggested the rules change so dishonest companies are charged on fraud based on the federal contract amount — not the amount of loss to the government.
