![]() ![]() Eighty-six percent of likely fraud in SBA’s pandemic relief program originated in the first nine months of the pandemic.These included duplicate applications, ineligible applications, and attempted fraud. Using several tools, including first-of-its-kind artificial intelligence, the SBA blocked 21.3 million applications for pandemic relief, representing $511 billion of funds retained across all four of SBA’s largest pandemic programs. Blocked over 21.3 million applications.They include the reinstatement of checking applications against Do Not Pay databases, the checking of tax transcripts to validate application information in the COVID-EIDL programs, and the establishment of a new Fraud Risk Management Board.Īs a result, in large part, of these measures, the SBA: The new anti-fraud measures deployed in 2021 in PPP and COVID-EIDL, which are explained in detail in the report, impeded further fraud attempts significantly and helped identify fraud that had already occurred. “Releasing the results of this report is necessary to fully inform past, present and future efforts for addressing fraud.” “The findings in this report, coupled with the SBA Office of Inspector General and other law enforcement’s commitment to fighting fraud, is a major step forward,” said Special Counsel for Enterprise Risk Peggy Delinois Hamilton. With this report, SBA is detailing the effective measures added to fight fraud and hold bad actors responsible, as well as recommendations of best practices to ensure future emergency small business programs are optimized from the start.” “SBA’s COVID relief programs were large-scale and significant undertakings and the agency has analyzed, evaluated and taken action to incorporate the latest methods and technologies along the way. “Pandemic relief programs, including those supported by President Biden’s American Rescue Plan, have driven a historic economic recovery, including saving millions of businesses and creating over 13 million jobs since 2021,” said SBA Administrator Isabella Casillas Guzman. The report is the most thorough analysis available of the initial fraud prevention measures, new controls put in place by the Biden-Harris Administration to prevent and detect fraud, and the overall impact of fraud on the pandemic relief programs. The report also details the most comprehensive analysis yet estimating the total impact of fraud, across SBA’s four largest pandemic relief programs, including the Paycheck Protection Program (PPP) and COVID-19 Economic Injury Disaster Loan Program (COVID-EIDL). The report “ Protecting the Integrity of the Pandemic Relief Emergency Programs: SBA’s Actions to Prevent, Detect and Address Fraud ” highlights the actions the agency deployed to restore fraud measures in pre-existing relief programs, enhance fraud controls in new programs, as well as support cross-agency efforts to bring fraudsters to justice. Small Business Administration (SBA) today released a report detailing analysis of anti-fraud protocols put in place by the Biden-Harris Administration in SBA’s four largest pandemic programs. Pacific Northwest region media contacts. ![]() Market research and competitive analysis. ![]()
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