Posted by Brian Kindle - 04/27/2020
Economic Aid, Fincrime Risk? – Exploring the Paycheck Protection Program and Pandemic Relief
The COVID-19 pandemic has governments around the world scrambling for ways to support the private sector, through low or no interest loans, payroll guarantees and more. In the US, initiatives like the Paycheck Protection Program or PPP have seen hundreds of billions of dollars loaned out through banks in a matter of weeks, and more on the way.
That’s been a lifeline for many businesses, but the staggering speed and volume of funds create opportunities for fraud, and headaches for financial institutions – From fincrime risks to concerns around customer experience and reputation.
In this CrimeCast, our guide to the tumultuous world of US pandemic emergency aid programs is Amanda DuPont, Public Records Product Expert with Thomson Reuters. Her role gives her an insider’s view into how financial institutions are managing programs like the PPP, Economic Injury Disaster Loans, Main Street Lending and more.
You’ll hear Amanda’s insights on:
- How institutions are balancing customer experience with fincrime compliance related to these programs
- How automation can help with customer due diligence in a pandemic
- How this crisis may actually present an opportunity for both fintechs and traditional banks
- And more
See What Certified Financial Crime Specialists Are Saying
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KENNETH E. BARDEN
"It's a vigorous exam. Anyone passing it should have a great sense of achievement."
(CFCS, Official Superior
de Cumplimiento Cidel
Bank & Trust Inc. Nueva York)
"The exam tests one's ability to apply concepts in practical scenarios. Passing it can be a great asset for professionals in the converging disciplines of financial crime."
(CFCS, Royal Band of
"The Exam is far-reaching. I love that the questions are scenario based. I recommend it to anyone in the financial crime detection and prevention profession."
(CFCS, CAMS Lead Compliance
Trainer, FINRA, Member Regulation
Training, Washington, DC)
"This certification comes at a very ripe time. Professionals can no longer get away with having siloed knowledge. Compliance is all-encompassing and enterprise-driven."
CFCS, CAMS, CFE, CSAR
Director, Global Risk
& Investigation Practice
FTI Consulting, Los Angeles