Tony Romm, "How rampant abuse by fintech fueled covid relief fraud," Washington Post, Dec. 1, 2022
Archived source: Tony Romm, "How rampant abuse by fintech fueled covid relief fraud," Washington Post, Dec. 1, 2022. Captured from www.washingtonpost.
Cited in: Tony Romm
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“Tony Romm, ‘How rampant abuse by fintech fueled covid relief fraud,’ Washington Post, Dec. 1, 2022.”
Original at www.washingtonpost.com. Archived at Pandemic Darlings, https://pandemicdarlings.com/source-documents/tony-romm-how-rampant-abuse-by-fintech-fueled-covid-relief-fraud-washi-177747e5a8/
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[Accessibility statement](https://www.washingtonpost.com/accessibility/)[Skip to main content](https://www.washingtonpost.com/business/2022/12/01/fintech-covid-relief-fraud/#main-content) [Democracy Dies in Darkness](https://www.washingtonpost.com/) [Save and subscribe](https://subscribe.washingtonpost.com/acquisition/?oscode=RPWH&s_l=ONSITE_HEADER_ARTICLE&p=s_v&s_ct=article&itid=nav_subscribe_logged_out&tid=nav_subscribe_logged_out&acqEntType=mktg_onsite_article&destination=https%3A%2F%2Fwww.washingtonpost.com%2Fbusiness%2F2022%2F12%2F01%2Ffintech-covid-relief-fraud%2F&arcId=S7BJBV2JIBDFFNMPJWBEOHE25E)[Sign in](https://www.washingtonpost.com/subscribe/signin/?next_url=https%3A%2F%2Fwww.washingtonpost.com%2Fbusiness%2F2022%2F12%2F01%2Ffintech-covid-relief-fraud%2F&nid=top_pb_signin&arcId=S7BJBV2JIBDFFNMPJWBEOHE25E&account_location=ONSITE_HEADER_ARTICLE&itid=nav_sign_in) Democracy Dies in Darkness [Business](https://www.washingtonpost.com/business/?itid=sn_business_title)[Economy](https://www.washingtonpost.com/business/economy/)[Economic Policy](https://www.washingtonpost.com/us-policy/economic-policy/)[Media](https://www.washingtonpost.com/business/media/)[Personal Finance](https://www.washingtonpost.com/business/personal-finance/)[Future of Work](https://www.washingtonpost.com/business/work/)[Technology](https://www.washingtonpost.com/business/technology/?itid=sn_business_6/)[Business of Climate](https://www.washingtonpost.com/climate-environment/business-of-climate/) [Business](https://www.washingtonpost.com/business/?itid=sn_business_title)[Economy](https://www.washingtonpost.com/business/economy/)[Economic Policy](https://www.washingtonpost.com/us-policy/economic-policy/)[Media](https://www.washingtonpost.com/business/media/)[Personal Finance](https://www.washingtonpost.com/business/personal-finance/)[Future of Work](https://www.washingtonpost.com/business/work/)[Technology](https://www.washingtonpost.com/business/technology/?itid=sn_business_6/)[Business of Climate](https://www.washingtonpost.com/climate-environment/business-of-climate/) [The Covid Money Trail](https://www.washingtonpost.com/economy/) # ‘The more you submit, the more we get paid’: How fintech fueled covid aid fraud Little-known firms such as Blueacorn and Womply allegedly collected taxpayer-funded fees as they overlooked signs of grift, according to a report released Thursday by congressional investigators Updated December 1, 2022 More than**3 years ago** 14 min 1,292  Storm clouds over the U.S. Capitol dome on July 12, 2022. A House subcommittee on Thursday released a report on how fintech companies processed Paycheck Protection Program loans early in the coronavirus pandemic. (Tom Brenner/For the Washington Post)  By [Tony Romm](https://www.washingtonpost.com/people/tony-romm/) “The faster the better,” the workers were told at the height of the coronavirus pandemic, as the little-known financial technology company Blueacorn raced to review small businesses that sought federal loans. [Get a curated selection of 10 of our best stories in your inbox every weekend.](https://www.washingtonpost.com/newsletters/must-reads/?method=SURL&location=ART&initiative=CTA) Speeding through applications, Blueacorn employees and contractors allegedly began to overlook possible signs of fraud, according to interviews and communications later amassed by investigators on Capitol Hill. The company weighed whether to prioritize “monster loans that will get everyone paid,” as the firm’s co-founder once said. And investigators found that Blueacorn collected about $1 billion in processing fees — while its operators may have secured fraudulent loans of their own. * * * 1,292**Comments**  Newsletter As news breaks  Economy & Business Alerts Important breaking news emails on the issues around the economy and business. 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