WASHINGTON—The $670 billion Paycheck Protection Program to help struggling small businesses survive fallout from the coronavirus pandemic faces a “significant risk” of fraud because of confusing rules and lack of safeguards, a Government Accountability Office report has found. In its haste to get money to businesses quickly, the Small Business Administration allowed banks to rely on borrowers’ own certifications to determine their eligibility for loans, which can be forgiven if borrowers meet certain conditions, the report...

Source: Wall Street Journal June 25, 2020 14:01 UTC