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Audit: 98% Of Iraq Contractors Failed To Comply With Fraud Regulations

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Audit: 98% Of Iraq Contractors Failed To Comply With Fraud Regulations An internal audit of some $8 billion paid to US and Iraqi contractors found that nearly every transaction failed to comply with federal laws or regulations aimed at preventing fraud, in some cases lacking even basic invoices explaining how the money was spent. Of the money paid during a five-year period — from 2001 through 2006 — $7.8 billion in payments skirted billing rules with some violations egregious enough to invite potential fraud, warned the Defense Department's inspector general.

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UnDave35 UnDave35 9 years
And we want these people to handle our health care?!?!
hausfrau hausfrau 9 years
Yea I hear ya... but it still sucks when the American people get shafted.
stephley stephley 9 years
Oh there's a reason there's no follow up: politicians and their political appointees give contracts to the people they like and the people they like get rich and donate money to keep the politicians in office handing out contracts. It's the great circle of life.
hausfrau hausfrau 9 years
I am so not surprised by this one bit. Everyone I know who is over there says the money wasted by contractors is OBSCENE. And honestly, this is obv. not against ALL contractors, but more often then now I hear the servicemembers complaining about how the contractors not only get paid MUCH MUCH more but also have access to amenities that they don't have access to! This war is being run by contractors, not the military. I don't even know why the military is there anymore, except to maybe protect the contractors. Ugh, I get so irratated with that situation. Its insane, there is no reason we shouldn't have some follow up on this to make sure our money isn't being wasted.
Jillness Jillness 9 years
$7.8 BILLION dollars! 98%! These dollar amounts and percentages are so high! I don't see how oversight committees could not catch on until 5 years have gone by. That is just an incredible level of incompetance. The especially sad thing is that I haven't seen this information on other mainstream news websites. I think the American people need to know where billions of their dollars are going.
stephley stephley 9 years
That's okay, I'm sure they're inherently honest people who wouldn't commit fraud anyway. Federal regulations are so hard to keep track of.
hotstuff hotstuff 9 years
Oh I'm just so shocked, NOT! Was Haliburton on the list...I'm sure!
raciccarone raciccarone 9 years
I am sure the Justice Department will get right on this!
Jillness Jillness 9 years
98%!!!!!!!!!!! WHAT?? Arg!! I am so upset about how our money has been wasted in this war. No bid contracts, lost money, 98% failed to follow fraud prevention regulations....I just don't think it could have been handled in a worse way.
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