The Internal Revenue Service’s Criminal Investigation Division issued a warning Thursday about a new wave of COVID-19 scams tied to the latest round of stimulus payments, especially targeting taxpayers in the District of Columbia.
Fraud is continuing to increase this year, in part due to the COVID-19 pandemic, according to a new survey by the Association of Certified Fraud Examiners.
The Internal Revenue Service’s Criminal Investigation unit has been initiating fewer investigations of abusive tax return preparers this past year, while also recommending fewer prosecutions, and seeing fewer indictments and prison sentences this year.
The COVID-19 pandemic is encouraging various forms of fraud, according to the Association of Certified Fraud Examiners.
COVID-19 has created new challenges and a remote work environment that heightens the risk of fraud at public companies.
Grant Thornton CEO Brad Preber and principal Linda Miller, who leads the firm's fraud and financial crimes practice, offer strategies to help businesses protect themselves from fraud amid the pandemic environment.
Artificial intelligence and machine learning are some examples of technology available now to help combat money launderers profiting from the pandemic.
A trade group says suspending so-called beneficial owner rules would help financial institutions make more small-business loans through the Paycheck Protection Program.
The Internal Revenue Service issued a warning urging taxpayers to beware of scammers calling and emailing them about the stimulus payments they are expecting as a result of last week’s CARES Act.
Financial institutions’ legislative agenda was already a low priority in Congress. Lawmakers’ efforts to stabilize the economy have shifted attention even farther away from bills that would benefit the industry.