660 Investigations for COVID Fraud
IRS Criminal Investigation (IRS-CI) released investigational statistics about COVID-related fraud investigations conducted by the agency over the past two years.
The agency investigated 660 tax and money laundering cases related to COVID fraud, with alleged fraud in these cases totaling $1.8 billion. These cases included a broad range of criminal activity, including fraudulently obtained loans, credits and payments meant for American workers, families, and small businesses.
“The Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed into law nearly two years ago as a safety net for Americans in light of an unprecedented health crisis. Unfortunately, even during times of crisis, criminals pop their heads out to look for ways to take advantage of those in their most vulnerable state. Thanks to the investigative work of IRS-CI special agents and our law enforcement partners, we’ve ensured criminals who try to defraud CARES Act programs face consequences for their actions,” said IRS-CI Chief Jim Lee.
As a result of the investigations, the consequences include a 100% conviction rate for prosecuted cases with prison sentences averaging 42 months.
The IRS Criminal Investigation Denver Field Office conducts investigations throughout Colorado, Wyoming, Montana, and Idaho. IRS-CI encourages the public to report known or suspected fraud attempts .To report a suspected crime, taxpayers may visit IRS.gov.