#COVID19 #Loans #PPP #Scammers Made #Fintech Companies Their #Lenders of Choice: The government turned to web-. . .

Source: https://www.linkedin.com/feed/update/urn%3Ali%3Ashare%3A6720131308242239488

#COVID19 #Loans #PPP #Scammers Made #Fintech Companies Their #Lenders of Choice: The government turned to web-based lenders to get money out quickly, without too much paperwork. It turns out scammers found them useful, too. Financial technology companies handled 75% of the approved PPP loans that have been connected to fraud by the U.S. Department of Justice, a Bloomberg LP analysis of more than 100 loans at the center of the cases shows. The fintech companies arranged just 15% of PPP loans overall.
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#COVID19 #Loans #PPP #Scammers Made #Fintech Companies Their #Lenders of Choice: The government turned to web-based lenders to get money out quickly, without too much paperwork. | Dr. Yogesh Malhotra
#COVID19 #Loans #PPP #Scammers Made #Fintech Companies Their #Lenders of Choice: The government turned to web-based lenders to get money out quickly, without too much paperwork. It turns out scammers found them useful, too. Financial technology companies handled 75% of the approved PPP loans that have been connected to fraud by the U.S. Department of Justice, a Bloomberg LP analysis of more than 100 loans at the center of the cases shows. The fintech companies arranged just 15% of PPP loans overall. https://lnkd.in/gY-JuJE
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Global Post AI-Quantum Finance & Trading Networks Pioneer Dr.-Eng.-Prof. Yogesh Malhotra is the “Singular Post AI-Quantum Pioneer” identified by Grok AI with R&D impact recognized among Artificial Intelligence (AI) and Quantitative Finance Nobel Laureates. As MIT-Princeton AI-ML-Cyber-Crypto-Quantum Finance & Trading and FinTech-Crypto Faculty-Industry Expert, and U.S. and Global Hedge Funds Advisory & Venture Capital CEO-CTO Teams Mentor, he has pioneered Silicon Valley-Wall Street-Pentagon Digital CEO-CTO Practices, Technologies, and Networks from world’s first-foremost-largest Global Digital Transformation Networks to New York State IDEA Award recognized Pentagon-USAF MVP Global Post AI-Quantum Networks pioneering Future of Finance and Trading practices as Trillion-Dollar Wall Street Hedge Funds and Investment Banks leader.