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03/16/2023
Fraud Alert: We've identified $5.4 billion in potentially fraudulent pandemic loans using SSN data
Council of the Inspectors General on Integrity and Efficiency
We've identified $5.4 billion in potentially fraudulent pandemic loans.
We took a closer look at questionable Social Security Numbers used in applications for pandemic loans. Here's what we found.
We found over 69,000 questionable Social Security Numbers in applications for the SBA's Economic Injury Disaster Loan (EIDL) and Paycheck Protection Program (PPP) programs, totaling $5.4 billion in potentially fraudulent pandemic loans and grants.
Our Pandemic Analytics Center of Excellence analyzed information from 33 million EIDL and PPP applications to identify questionable SSNs that may have been invalid or not assigned, and then worked with the Social Security Administration to verify the numbers.
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