(AGENPARL) – mer 22 novembre 2023 “You are subscribed to FinCEN Updates. The information below is available at FinCEN.gov.”
*FinCEN Alerts Financial Institutions to COVID-19 Employee Retention Credit Fraud*
The Financial Crimes Enforcement Network (FinCEN), in close coordination with the Internal Revenue Service Criminal Investigation (CI), issued an alert today to financial institutions on fraud schemes related to the COVID-19 Employee Retention Credit (ERC). The Coronavirus Aid, Relief, and Economic Security (CARES) Act authorized the ERC as a tax credit to encourage businesses to keep employees on payroll during the COVID-19 pandemic. CI has identified ongoing fraud and scams related to the ERC that, to date, have resulted in 323 investigations involving more than $2.8 billion of potentially fraudulent ERC claims throughout tax years 2020, 2021, 2022, and 2023. The alert provides an overview of typologies associated with ERC fraud and scams, highlights select red flags to assist financial institutions in identifying and reporting suspicious activity, and reminds financial institutions of their reporting requirements under the Bank Secrecy Act.
*News Release:* https://www.fincen.gov/news/news-releases/fincen-alert-covid-19-employee-retention-credit-fraud
*Alert:* https://www.fincen.gov/sites/default/files/shared/FinCEN_ERC_Fraud_Alert_FINAL508.pdf
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