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Economic Aid, Fincrime Risk? – Exploring the Paycheck Protection Program and Pandemic Relief

Stacks of US dollars

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

"The CFCS tests the skills necessary to fight financial crime. It's comprehensive. Passing it should be considered a mark of high achievement, distinguishing qualified experts in this growing specialty area."

KENNETH E. BARDEN 

(JD, Washington)

"It's a vigorous exam. Anyone passing it should have a great sense of achievement."

DANIEL DWAIN

(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."

MORRIS GUY

(CFCS, Royal Band of

Canada, Montreal)

"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."

BECKI LAPORTE

(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."

KATYA HIROSE CFCS, CAMS, CFE, CSAR Director, Global Risk & Investigation Practice FTI Consulting, Los Angeles

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