Beware: Scammers Impersonating Law Enforcement Target Businesses Over PPP Loans

Tuesday March 12, 2024

Boise, Idaho… The Idaho Department of Finance (IDOF) urges the public to be aware of a recently reported scam targeting small business owners. Scammers impersonating various law enforcement agencies are contacting business owners claiming they are being investigated for fraudulently obtaining Paycheck Protection Program (PPP) loans, regardless of whether or not they have been repaid or forgiven.

In the report IDOF received from a local financial institution, a business owner was contacted via phone by a purported deputy, claiming to have an active arrest warrant against them due to a missed court date related to the investigation of their PPP loan. To legitimize the claim, the scammer provided elaborate phony court and/or legal documentation, including documents describing an arrest warrant that purports to require the posting of a cash bond and then instructions to make a payment (through a cryptocurrency kiosk) to resolve the warrant and avoid jail time.

View full press release