Tuesday, December 6, 2022

https://ift.tt/icOVCrg congressional report says financial technology companies fueled rampant PPP fraud

A congressional report found financial technology companies, or fintechs, largely fueled PPP loan fraud. Bluevine, a fintech noted in the report, told NPR it adapted to threats of fraud better than other companies mentioned.

Fraud in the Paycheck Protection Program, which gave potentially forgivable loans to small businesses during the pandemic, was largely due to financial technology companies, according to a new report.

(Image credit: SOPA Images/SOPA Images/LightRocket via Gett)

A congressional report says financial technology companies fueled rampant PPP fraudA congressional report found financial technology companies, or fintechs, largely fueled PPP loan fraud. Bluevine, a fintech noted in the report, told NPR it adapted to threats of fraud better than other companies mentioned.

Fraud in the Paycheck Protection Program, which gave potentially forgivable loans to small businesses during the pandemic, was largely due to financial technology companies, according to a new report.

(Image credit: SOPA Images/SOPA Images/LightRocket via Gett)



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