A new report shows more than $200 billion meant to help struggling businesses during the pandemic may have been stolen.
A new report shows more than $200 billion meant to help struggling businesses during the pandemic may have been stolen.
Unfortunately, this is just the latest price tag from federal COVID funds suspected to have been misused. During the initial roll-out in 2020, Inspector General of the SBA Mike Ware noted the importance of dependable internal controls within the SBA in order to mitigate the risk of fraud.One of the findings contends that the agency"weakened or removed the controls necessary to prevent fraudsters from easily gaining access to the programs."
"A decision was made at the outset of the pandemic: speed was the key," said Horowitz."We're going to send the money out. We're not going to vet people. That was a bad choice. It was the wrong choice. It never should have happened."
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