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Executive Order 14249Executive Order
Protecting America's Bank Account Against Fraud, Waste, and Abuse
Donald J. Trump
Signed: Mar 25, 2025
Published: Mar 28, 2025
Economy & TaxesFinancial Services
Standard Summary
Comprehensive overview
Executive Order 14249, "Protecting America's Bank Account Against Fraud, Waste, and Abuse," aims to strengthen financial integrity and accountability across the federal government by centralizing payment oversight and enhancing fraud prevention measures. Issued by the President on March 25, 2025, it directs the Department of the Treasury to implement stricter verification processes for government disbursements, consolidate financial systems, and reduce reliance on fragmented payment authorities. The order seeks to curb an estimated $233–$521 billion in annual fraud losses, increase transparency in federal spending, and improve operational efficiency by standardizing financial management practices.
Key Points
- 1Pre-certification verification**: Requires agencies and the Treasury to screen payments for fraud and errors before disbursement, using systems like the Do Not Pay database and validating payee details (e.g., identity, account status).
- 2Data sharing mandates**: Agencies must update privacy policies to allow data disclosure to the Treasury for fraud prevention and provide access to necessary payment information.
- 3Core financial system consolidation**: Directs agencies to adopt standardized financial management solutions and use Treasury-approved systems to reduce duplication and improve reporting.
- 4Reduction of Non-Treasury Disbursing Offices (NTDOs)**: Calls for revoking or delegating disbursing authority from agencies back to the Treasury, centralizing payment processing to enhance oversight.
- 5Implementation timelines**: Sets deadlines (e.g., 90–180 days) for compliance plans, system updates, and progress reports to ensure adherence to the order.
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