COVID Crimes and Related Investigations 

In anticipation of GSX, we sat down with presenters of upcoming sessions in order to get a better understanding of the topics at hand. This week we are featuring, “COVID Crimes and Related Investigations,” presented by Karl Perlman, CEO at CIP Corps and Leland Dean, CPP, VP Regional Security Manager at Bank of New York Mellon. Read on for what they had to say and don’t forget to register for GSX 2022

Q: How did you become interested in your topic? 

KP: The financial sector and law enforcement agencies reported a significant increase in identity theft, account take overs, SBA loans and PPP, EIDL fraud. Leland and I spoke to several peers in the financial and law enforcement communities and discussed the relationship between COVID and the increased fraud activity. We also discussed the impact of COVID on fraud investigations. 

Q: Tell us about your presentation and why should security professionals have this topic on their radar? 

LD: Ever since COVID hit the USA and money was directed to individuals, families, and businesses… fraudsters consistently find ways to manipulate the system and to gain funds illegally.   We will show you several case studies, discuss different frauds, and how to mitigate.  This presentation will be interesting to Financial Services, Hospitals, Oil & Gas, Entertainment, and most Critical Infrastructures. 

Q: What advice you would give security professionals interested in this topic? 

KP: Take advantage of available resources such as SBA Inspector General, law enforcement, corporate security and anti-fraud departments and private security professionals. Industry Associations such as ASIS International is a great resource for information sharing and educational content. Awareness of the impact of COVID on fraud and security is a great first step. 

Q: How do you see this issue evolving in the next 2-5 years?   

LD: Whereby PPP/PPE, SBA loan, and other related COVID fraud may be reduced, other particular frauds will increase or will resurface.  Such as check fraud, IRS/tax scams, Phishing and its relatives, synthetic ID, and Zelle and related frauds like social media, cryptocurrency, romance and online shopping/HR scams.