The transfers are done very quickly so the cash can be taken out as soon as possible, leaving a difficult money trail to trace, he said. It could be their own account or there could be other associates that they're sending money to." "Once in that peer-to-peer platform, they'll go ahead and send it out to different accounts. Now the money is in your account and they're able to get it transferred in this peer-to-peer platform," Pena said. "If you're a bad guy, you find a way to get money illicitly. Pena said the technique used by criminals laundering CARES Act funds is the same as other schemes that exploit the ease and anonymity of moving money through one of the apps. "So the federal government decided that, 'Let's make it as easy as possible to get and as quickly as possible to get the money to the people that need it.'" "It's so easy for a fraudster, because there are so many people that legitimately need this money," Pena said. "And I think that they almost use that blatant conspicuous advertisement to say, 'Obviously if this was fraudulent, we wouldn't be advertising on social media like this.'"ĭeLuca and his partner, Detective Ricardo Pena, also have seen an increase in criminal activity during the pandemic. "It's almost a degree of hiding in plain sight, because they will say, 'Hey, listen, this is a perfectly legitimate business opportunity,'" said Detective Jason DeLuca of the Coral Springs Police Department in Florida. In these cases, fraudsters often entice users on social media to send them money either for products that don't exist or as part of a larger scheme to steal their money. Local law enforcement officials say the explosion of the fraud is also directly related to criminals who target users of the apps desperate for quick cash due to the pandemic. He declined to comment through his attorney. Some of the funds were accessed via money transfers on Cash App, according to the complaint.īaines has pleaded not guilty. They then obtained debit cards loaded with the fraudulently obtained benefits and had them mailed to various addresses and then made cash withdrawals at ATMs or when making purchases in stores. The complaint spells out how authorities say the funds were allegedly stolen: Baines and his co-schemers submitted applications for unemployment benefits that contained false information. The rapper is facing charges of fraud, aggravated identity theft and interstate transportation of stolen property in connection with obtaining more than $1.2 million in Pandemic Unemployment Assistance benefits. Personal Loans for 670 Credit Score or Lowerīut a federal criminal complaint filed in October claims otherwise. Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit
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