re: How are these bankers allowing PPP fraud not busted?

As a banker, you can look at everything and check every box and if someone is going to defraud you they’re going to defraud you. We know we get payroll reports and tax forms, but there is no way to audit every single one of those forms nor do we have the knowledge or know how to do so. Nor were we required to do so by Sba’s own guidelines.

When there is that much money moving into the economy as quickly and easily as it did, fraud is going to happen. It’s simply a numbers game.

You can easily go back after the spilt milk and maybe find little nuances you possibly could have caught or questioned further, but hindsight is always 20-20 and we were told by Sba and treasury to get the money on the street. There was no time for a 4 week underwrite of each deal like a normal line of credit would require. And even then fraud still happens.