RESULTS FOR: CARES Act
September 14, 2020 | Compliance
As might have been expected, the urgent distribution of hundreds of billions of dollars by the government in coronavirus relief funds has strained the capacity to process it and left ample fodder for further government oversight and investigations. Anyone who received this funding or was involved in the process to distribute it should assess their potential exposure and be prepared when the government knocks at the door.
The strain is evidenced by developments reported over the last couple of weeks. … Read More
June 11, 2020 | Compliance
Oversight of congressional funding and the economic impact of the COVID-19 pandemic picked up steam this week. Anyone who received funding from the CARES Act or other disaster relief legislation needs to be sure the money can be properly accounted for.
The Senate recently confirmed Brian Miller as Special Inspector General for Pandemic Recovery (SIGPR). As SIGPR, he will oversee the taxpayer-funded pandemic recovery fund and lead audits and investigations to prevent and detect fraud and abuse. Miller will also … Read More
June 10, 2020 | Compliance
The COVID-19 pandemic has left us all in an embattled state, and the businesses that fuel our economy have probably been hit hardest of all. In an effort to help mitigate the damage, the government is funneling $2.2 trillion to hard-hit companies via the CARES Act (Coronavirus Aid, Relief, and Economic Security Act). While the potential is always high for fraud and abuse in relation to large, cumbersome governmental actions, this is never truer than when they are precipitated by … Read More
April 30, 2020 | Compliance
April 28, 2020 | Investigations
This week the White House and Congress agreed on a $484 billion funding deal to help small businesses, hospitals and Covid-19 testing. The spending package’s passage infuses another $310 billion into the Paycheck Protection Program (“PPP”), $60 billion of which was set aside for regional banks, community-based lenders and credit unions with an added $10 billion to cover lenders’ administrative costs. There’s also $60 billion allocated in the legislation for the Economic Injury Disaster Loans Program, which covers grants for … Read More
April 3, 2020 | Investigations
International fraudsters are already exploiting the Coronavirus and new federal CARES Act aid, relief, and stimulus programs, which include emergency cash payments to individuals and businesses. Expect the fraud attempts to continue throughout and after the pandemic.
Criminals are using various means to contact potential victims, including:
• spoofed (forged sender/header) email and phone calls posing as U.S. Treasury officials requesting potential victims provide personal identifying information (“PII”) to receive aid payments; and
• text messages with links to official-looking … Read More