Navigating COVID-19 Relief Fraud
The size and scope of the federal and state response to the economic crisis triggered by COVID-19 made some amount of criminal activity inevitable. According to early estimates of fraud, criminals took advantage of known weaknesses in the system to steal billions of dollars in relief funds.
Melissa Hodgman from the SEC - Division of Enforcement, James Cook from SentiLink, and Benjamin Lawsky from The Lawsky Group joined us on Thursday, October 1, for a webinar that discussed the following:
The Problem: COVID-19-related fraud has taken a number of forms and can be difficult to recognize.
The Gaps That Were Exploited: Fraudsters have taken advantage of known weaknesses in systems used to control access to the banking system to divert COVID relief funds.
Getting Ahead of the Coming Scrutiny: Financial institutions and companies should take action to determine whether they were exploited by criminals seeking to divert benefits meant for those affected by the pandemic.
To access the Navigating COVID-19 Relief Fraud webinar presented on October 1, 2020, please click