SBA’s Handling of Identity Theft in the COVID-19 Economic Injury Disaster Loan Program
Inspection / Evaluation · Small Business Administration OIG · 2021-05-06 · about Small Business Administration
Report
Title
SBA’s Handling of Identity Theft in the COVID-19 Economic Injury Disaster Loan Program
Submitting OIG
Small Business Administration OIG
Component agency
Small Business Administration
Type
Inspection / Evaluation
Publication date
2021-05-06
Summary
The Office of Inspector General (OIG) is issuing this Evaluation report to notify Small Business Administration (SBA) officials of significant matters regarding its handling of complaints of identity theft in the Coronavirus Disease 2019 (COVID-19) Economic Injury Disaster Loan (EIDL) program.We recommend the Administrator to direct the Associate Administrator for the Office of Disaster Assistance, the Chief Financial Officer for the Office of Performance Management and Chief Financial Officer, and the Associate Administrator for the Office of Capital Access to:1. Develop a process to maint
Recommendations (5)
#
Status
Text
1
Closed
Develop a process to maintain and track all identity theft complaints.
2
Closed
Develop a process to provide status updates to each complainant alleging identity theft.
3
Closed
Complete and formalize a process to restore identity theft victims to their condition prior to the fraud. The process should include steps to stop the loan billing statements, prevent delinquency collections, release them from loan liability and UCC…
4
Closed
Develop a process to remove any fraudulent loans and related UCC filing fees from its financial records.
5
Closed
Review over 150,000 returned billing statements and resolve any that involve identity theft, then refer fraudulent loans to OIG.