There is so much fraud going on, you really have to be careful about who you are doing business with. Especially when it comes to the transactions that you are using money apps, venmo, cash app, and pay pal. According to nbcnews.com …..Criminals are laundering illegally obtained funds meant for Covid-19 relief through the most popular apps for legally sending and receiving money.
This is called “money mules” they deposit funds into the apps, then move them from one account to the other in an effort to hide the source of the funds.
One thing is for sure, that this a pandemic but the scammers came up BIG TIME. The Secret Service has 700 pending investigations related to the Paycheck Protection Program and the Unemployment Insurance Relief program. Such a shame that they will take out of the hands of those that need it.
80 defendants have been charged with attempting to steal more than $240 million from the PPP program, a Justice Department spokesman said.