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Banks Have PPP Protection But Still Must Identify Clear Fraud, Lawyers Say

S&P Global Market Intelligence

11 May 2020

Damien Specht spoke to S&P Global Market Intelligence about fraud cases related to the Small Business Administration’s Paycheck Protection Program.

According to Damien, investigators will likely probe at least three types of fraud cases, including outright fraud,  as well as entities believing they meet the small business requirements but do not and applicants that may not have actually needed the funds.

“The question becomes: Are you going to really second-guess people who did this in good faith?” said Damien.

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