To establish fraud prevention and program integrity functions and data sharing authorities within the Department of Treasury and a permanent governmentwide Inspector General for Fraud, Accountability, and Recovery, and for other purposes.

This legislation aims to strengthen the federal government's ability to detect and prevent the misuse of taxpayer funds. It proposes establishing a permanent, governmentwide Inspector General for Fraud, Accountability, and Recovery. This new office would be responsible for overseeing federal spending across various agencies to ensure that programs are operating with integrity and that fraudulent activity is identified and addressed quickly. Additionally, the bill would create specific fraud prevention and program integrity functions within the Department of the Treasury to centralize these efforts. If enacted, the bill would grant the Treasury Department new authorities to share data across different government entities. This is intended to help officials cross-reference information more effectively to catch improper payments or identity theft before funds are distributed. By creating a permanent oversight body and improving data coordination, the bill seeks to provide a more robust and long-term defense against the loss of public money to criminal activity or administrative errors.