ClearForce

In the midst of quarantine as a result of COVID-19, fraudsters stole billions of relief funds meant for small business and millions of citizens across the nation. Our CEO Tom Miller spoke with American Banker about what lenders could have done to mitigate fraud before it occurred, and how similar issues can be prevented moving forward.

Identity fraud in the Payroll Protection Program.

“Every dollar that goes out to a fraudulent application is a dollar that’s not going out to a business that really needs these resources.”

NBC New York

Mar 28, 2022

$80 billion of fraud since the start of the pandemic.

The Emergency Injury Disaster Loan Program has seen nearly $80 billion of fraud since the start of the pandemic. When Congress approved the EIDL and PPP programs, fraudsters got to work stealing from the government.

Newsday

Mar 28, 2022

How government benefits programs became a nightmare for banks

Related Articles

Identity fraud in the Payroll Protection Program.

$80 billion of fraud since the start of the pandemic.

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