answer this classmate in a discussion post "The COVID-19 pandemic has led to a significant increase in scams, particularly those involving the misuse of relief programs and cyber fraud schemes. As both businesses and individuals sought financial assistance, it became evident that fraudsters were quick to take advantage of vulnerabilities in online systems and the government's expedited distribution of funds. From what I've observed, the FBI has been actively monitoring these scams, which often hinge on manipulating digital processes and exploiting information security weaknesses.

In looking at two recent cases, I've identified a troubling trend: people misusing government relief funds meant to support struggling businesses during the pandemic. Such actions not only defeat the purpose of the relief efforts but also cause additional harm to those already facing hardships. For instance, Maria Gene Reich embezzled funds from her family's business and misappropriated Economic Injury Disaster Loan (EIDL) funds for personal expenses. This case highlights how easy it is to exploit online banking and loan systems when access is unchecked (U.S. Attorney's Office, 2024). Another case involves Antranette Echols, who submitted false COVID-19 relief loan applications for others and profited from fraudulent claims by charging fees to ineligible borrowers (U.S. Attorney's Office, 2024).

What stands out to me in these situations is how both Reich and Echols took advantage of the digital financial systems by exploiting loopholes in securing EIDL loans, either for themselves or for others. The rapid rollout of financial aid during the pandemic lacked adequate safeguards, allowing these scams to thrive. They capitalized on the insufficient oversight of online platforms, ultimately siphoning off substantial amounts of money intended for pandemic recovery. These incidents highlight the urgent need for better oversight in online financial systems. We all have a part to play in preventing future scams like these."