Perspectives 2020-2021 Public Sector

Citi Perspectives for the Public Sector 58 59 Secure, Efficient and Flexible Payments Are Paramount During COVID-19 and Beyond M aking safe payments has always been important for public sector entities. But unexpected purchasing requirements during the COVID-19 pandemic have been a valuable reminder of the importance of remaining vigilant and using proven secure payment methods. The COVID-19 crisis prompted a global race to obtain vital personal protective equipment (PPE) and specialized medical supplies. Governments, hospitals, law enforcement and emergency services, universities, and nearly every large corporation competed to procure the same limited supplies. Manufacturers across the globe immediately sprang into action to market their goods; some other firms (often with no experience of PPE production) reconfigured their operations to produce in- demand equipment. Unfortunately, fraudsters and other dubious entities also entered the game, adding additional risk to an already challenging situation. Secure, Efficient and Flexible Payments Are Paramount During COVID-19 and Beyond The COVID-19 crisis prompted a global race to obtain vital personal protective equipment (PPE) and specialized medical supplies. 58 Unfulfilled PPE contracts leave states scrambling for supplies amid the coronavirus pandemic After weeks of "wild west" wrangling between state governments for critical medical supplies amid the coronavirus pandemic, personal protective equipment still remains scarce for some frontline workers. Meanwhile case of fraud, waste and above are piling up. States and Hospitals Are Sourcing Their Own PPE From China States and hospitals aren't just counting on the federal government for personal protective equipment. They're wading into the import business themselves sourcing their own supplies from China. Company Questions Deal by "Shark Tank" Star to Sell N95 Masks to Florida 4/22/2020 The company that makes the masks, 3M, said Daymond John's firm The Shark Group was not an authorized distributor and appeared to have been selling them at an inflated price. FBI exposes coronavirus scam after 39M masks promised from overseas fail to reach California hospitals The FBI uncovered an international coronavirus- fueled fraud scheme after more than 39 million masks promised to a powerful California union representing healthcare workers were never delivered to hospitals and other medical groups in the state. Problematic Payment Methods Pre-Payment via Wire Paper Check to Broker or Intermediary Escrow Accounts via Law Firms Wire to Vendor's Law Firm or Affiliate Andy Taylor Head of State & Local Governments, North America Public Sector Group, Citi