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Security breaches widespread among CARES fund recipients: Report



Violations of workplace safety are the second most expensive crime committed by companies supported by the Coronavirus Aid, Relief and Economic Security Act, amounting to $ 274.3 million in penalties, according to a report published on Tuesday by Good Jobs First.

The Washington-based national political research firm studied more than 43,000 companies and nonprofits that received CARES Act aids and found that many have a history of misconduct and collectively pay $ 13 billion to regulate civil and criminal penalties during it. last decade.

Companies received $ 57 billion in grants and $ 91 billion in loans through the financial stimulus bill passed by Congress to mitigate the economic downturn from the pandemic. The companies reported 1

8,342 cases of security breaches, with an average penalty of $ 14,954, according to the report.

Wage and timber offenses were the most costly for the companies studied, resulting in penalties of $ 436.5 million.

"A significant number of CARES Act recipients have been punished for serious corporate misconduct, ranging from wage theft and workplace safety violations to healthcare fraud and price fixing," the report said. they granted grants and loans, partly because there were no strict eligibility requirements written in the CARES Act. In some programs, such as the Provider Relief Fund, the money was distributed by formula rather than choosing certain beneficiaries over others. "

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