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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