According to a recent report, the U.S. Small Business Administration’s inspector general has found that a significant amount of money – over $200 billion – may have been fraudulently obtained from two critical COVID-19 relief programs intended to aid small businesses.
The investigation has shed light on the susceptibility of the Paycheck Protection and COVID-19 Economic Injury Disaster Loan programs to fraudulent activities, particularly during the initial stages of the pandemic.
The Biden administration has responded to this issue by proposing a $1.6 billion plan, which aims to bolster law enforcement efforts and impose stricter regulations to curb pandemic-related fraud.
Read More
Associated Press Rating
Discover more from News Facts Network
Subscribe to get the latest posts sent to your email.
