The Global Fund would like to make the following statement about how it protects its grant money.
Two articles published by the Associated Press in recent days and picked up by a large number of media outlets have seriously misrepresented the extent of fraud discovered in grants financed by the Global Fund.
Media reports alleging that “billions of dollars have been misappropriated from the Global Fund” or that the extent of fraud uncovered is “massive” are irresponsible, false and misleading.
To date, the Global Fund’s Office of the Inspector General has undertaken audits or investigations in 33 of the 145 countries where the Global Fund has grants.  As a result of this, the total amount of misappropriated or unsubstantiated funds that the Global Fund is demanding to be returned at present is $34 million. While all fraud is unacceptable and the Global Fund is taking strong and firm action to recover such losses, one should keep in mind that this amount represents 0.3 per cent of the total amount of $13 billion disbursed to countries by the Global Fund so far.
[continues] http://www.theglobalfund.org/en/howprotect/