US Secret Service identifies 15,000 fraudulent bank accounts and seizes $286 million in stolen COVID relief loans

The U.S. Secret Service seized approximately $286 million in stolen Economic Injury Disaster Loans, the organization announced today. The fraudulently obtained funds were returned to the Small Business Administration.

The Secret Service identified 15,000 accounts used to apply for COVID relief loans using stolen employment and personal information.

Green Dot Bank, a third-party payment system, was utilized by criminals to move funds to avoid detection. The Orlando, Florida, Secret Service Field Office initiated the investigation and worked with GDB to identify the accounts and stolen money.

Lead investigator for the Secret Service and Assistant Special Agent in Charge Roy Dotson said, “Working closely with our Central and North Florida Cyber Fraud Task Forces, this investigation enabled the recovery of a significant amount of critical federal relief.”