Who Benefits? Lessons from COVID-19 Benefits Fraud
About the event
Not long after the pandemic began, reports began to emerge about exploitation of programs meant to provide economic relief to those negatively impacted by COVID-19. Some reports have described fraud totaling millions of dollars, sometimes involving individuals right here in Colorado. But more than a year and a half into the pandemic, what has been learned about this type of crime? What are the differences between the various relief programs and how do they work? What are the risks to financial institutions, and what are the red flags for potential COVID relief abuse? Most importantly, what can be done to curb the abuse of these programs?
To answer these questions and more, the inaugural event of the Colorado Chapter of ACFCS will bring together a panel of experts to discuss this topic. Representing a range of expertise from both the public and private sectors, panelists will share what has been learned about problem, what should be done, and what we might expect in the future. Don’t miss this opportunity to gain actionable insights and expertise!
In this webinar you will learn:
• A case study involving an example of COVID relief loan fraud that occurred here in Colorado.
• How the COVID (Paycheck Protection Program) PPP and Economic Injury Disaster Loan (EIDL) programs work, how they can be exploited, and red flags for abuse.
• The role Suspicious Activity Reports play in the successful investigation of COVID relief loan fraud, and
• Tips on how to make reports more useful to investigators.