Head of compliance firm slams levels of fraud occurring in US COVID-relief schemes; says the same rate of fraud in a bank would cause it to collapse - AML Intelligence
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Analysis & Opinion, Financial Services, North America

Head of compliance firm slams levels of fraud occurring in US COVID-relief schemes; says the same rate of fraud in a bank would cause it to collapse

A compliance and due diligence expert has criticised a developing culture of fraud acceptance in the United States as the COVID-19 pandemic continues to disrupt livelihoods.

Speaking at the ACFCS Back to the Future of FinCrime virtual summit, Principal and Founder of RegTech Consulting Jim Richards said that the level of fraud currently plaguing American COVID-relief was so great that, if it happened in banks, those banks would fail quickly.

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