PPP Fraud: Lessons Learned in 2020 & Preparing for 2021

On February 25th, 2021 Wren York, SVP of the Financial Intelligence Unit at Truist and Timothy Dunfey, Bank Compliance Consultant and Bank Regulatory Attorney at Alhambra Compliance joined Strategic Communications Manager Kristina Drye for a discussion of emergency relief fraud from a banking perspective.

The the first round of PPP loans rolled out in mid-2020 and cases of fraudulent claims continue to make their way into the news on a daily basis. With further COVID-19 related stimulus and support funds on the way, it is imperative to understand what we have learned from the initial payments, what practices have changed as a result, and how we can curb widespread fraud in the future.

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