The Department of Justice, along with the Federal Bureau of Investigation and the Secret Service, appeared before a U.S. Senate Judiciary Committee hearing last week to discuss how they’re combating crimes resulting from the coronavirus pandemic. Their testimonies offer valuable insights for chief compliance officers and chief risk officers regarding where threats may lurk, especially in the financial services and healthcare sectors.
Collectively, the June 9 testimonies described several similar threats the agencies are observing, including hoarding and price-gouging of personal protective equipment; frauds related to the CARES Act’s Paycheck Protection Program (PPP); antitrust violations, like price-fixing and bid-rigging; and more.
