Paycheck Protection Program (PPP) — Fraud after Funding


Now that many financial institutions have jumped on board and funded millions of dollars in Payroll Protection Program (PPP) loans, what are the true risks for these loans? Will the financial institution be held accountable if fraud is detected within your PPP portfolio? How many loans will truly be forgiven and how can a financial institution conduct due diligence after the fact to show they did everything possible to detect any fraud that slipped through at onboarding? This session will cover these questions and give you a sense of confidence in your PPP program.

3 key takeaways the audience will gain from the presentation:

1. Know the trends and types of fraud surrounding PPP loans and how to detect them

2. Learn how to perform a look-back at loan documentation to detect and report possible fraud

3. Become confident of the regulatory requirements for PPP loans related to BSA and customer due diligence, even after loan funding

Terri Luttrell 
Compliance & Engagement Director