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PPP Fraud Detection Checklist: Key Due Diligence Elements to Review to Detect PPP Fraud

Economic relief payments are often subject to fraud, and the Paycheck Protection Program (PPP) is no exception. More than $4 billion in PPP loans have already been flagged for fraud, and that number is likely to increase. Extensive due diligence is critical to prevent risk exposure and possible financial loss to the financial institution.

Download this checklist for:

  • Customer due diligence elements to review
  • Key enhanced due diligence items to review
  • Additional information on reporting suspected fraud and identifying COVID-19-related fraud