Establishes the Office of Whistleblower Awards to incentivize reporting of COVID loan fraud.
Creates the Office of Whistleblower Awards within the Small Business Administration to encourage reporting of financial misconduct or fraudulent misrepresentation by COVID loan recipients. The office will determine if submitted information is original and track its use in convictions or settlements. Whistleblowers who provide original information leading to convictions or settlements may receive awards from a dedicated Whistleblower Award Fund. The fund receives deposits from penalties collected from convicted individuals or entities.
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