Everything You Need to Know About PPP Carding
While millions of people were losing their jobs due to the effects of the Covid-19 pandemic, the American government responded by making available billions of dollars in help. However, con artists and fraudsters will look to take advantage of any circumstance in which there are large sums of money moving around. PPP loan fraud is a relatively recent con that, with a high probability, you are already familiar with.
According to several sources, the PPP loan fraud could be the greatest fraud in the history of fraud, with crooks stealing more than $100 billion. But what exactly is meant by the term “PPP loan fraud”? To understand that, we first have to understand what the PPP loan system is.
The Paycheck Protection Program
The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) is responsible for the establishment of the Paycheck Protection Program (PPP), which is a federal program. The objective was to provide assistance to enterprises so that they could continue to employ their staff.
The PPP was a lifeline for business owners who were afraid of having to lay off their industrious employees, taking away their income and health insurance in the midst of a pandemic. It lasted sporadically from April 2020 to May 2021.
Through their local commercial banks, companies were allowed to submit applications to the federal government for PPP loans, which could be for a maximum sum of $10 million. However, in order for them to be eligible, they needed to satisfy a number of requirements.
Even after receiving a PPP loan, a company is still required to conform to the loan’s stringent restrictions and limitations about how the money can be spent. It is expected that funds from the PPP will be used to cover operational and payroll costs. If expenditure goes above and beyond such limits, the FBI, IRS, or Department of Justice may become involved.
How To Work The PPP System
The PPP system is a bit difficult to finagle because everyone needs to apply with details about themselves and their businesses and provide documents to legitimize their claims. A lot of people have been doing it and getting away with it, so there is no reason why you can’t, either. It’s like any other carding method–just with some added flavor. Here are the steps you need to follow to get in on the inside.
Get on the Darknet
You can’t avoid this. You need to get on the darknet and get the hang of Tor. Download it and get used to navigation with it. There are a lot of online guides about this, so you have resources at hand if you’re new or doing this for the first time. Don’t be afraid if you are new, though. The darknet is safe if you know what you’re doing. It gives you better anonymity than you would get otherwise anywhere else on the internet.
To enter details into a PPP application, you will need to get these details first. That’s what fullz is. It is a term used to refer to a full set of ID information–first name, last name, necessary documents to legitimize the identity, and also a credit card number. It should be pointed out that the CC is considered optional, but it is always better to have it in your back pocket than not.
Get your hands on credit info
Building off the previous point, this is where that credit card info comes into play. You see, credit institutions don’t like being scammed. Surprising, we know. They have measures in place that protect them from scams by measuring credit scores. You can get around this by making sure that the credit card info you buy with your fullz has a high credit score. Pay this off with any old credit card you might have in your collection, and avoid spending money out of your own pocket.
Protect your IP and get it validated
If you’ve never done this sort of thing before, you’re in luck. Your IP is not likely to be monitored or flagged as suspicious. However, for those that have unfortunately blown their IP before, a Socks5 investment is a must. Socks5 allows you to buy a legit IP that shows up as yours during screenings and searches. These are mostly going to be UK-based if you get them from Socks5, but there are other similar sources out there for you to make use of.
Get a bank account
Because the PPP is basically a loan, this will be paid directly into a bank account provided by the applicant. You don’t want to use your personal bank account. So, you buy a temporary bank account on the darknet. These are easy enough to get, but please make sure to make them look as legit as possible. It might cost you a little more, but it is always worth it to get one that comes with a debit or credit card as well as an IBAN number. You always want to look the part, after all.
Get a verified phone number
This is not the end of the road, for there are other security measures in place. One of the most common ones you will encounter is two-factor authentication or 2FA. This is basically a way to really make sure you are who you say you are. So, for example, if you log in somewhere with your email, they will send you a code on another device–usually your phone–that you have to verify to gain entry.
Do that here. Get a verified phone number for your burner from any of the services that do so. You don’t even have to go looking in the darknet– the Play Store or App Store will have enough options for you to choose from.
Use photoshop to validate the ID
So, usually, this would be all you need, but the PPP goes a step beyond the usual. At the end of the application, when you’ve filled in every possible detail they could have asked you for, you will have to provide documents to back up everything you have provided. This is why you will need to brush up on your photoshop skills. Either that, or you can get an online service to get the documents you need to be made for you.
Cashing out with crypto
Because it’s a loan you’re applying for, the approved amount will get sent straight to the bank account you’ve provided. From there, you’ll want to send the amount to a crypto exchange and cash it out in Bitcoin or whichever cryptocurrency you like best. The anonymity of crypto is perfect for you to get the money in your hands without arousing suspicion.
Once you’ve done all this, you can go ahead and fill out that application without worries! With the cash in your hands, you are free to do as you like with it, but always be careful! You don’t want to get caught! Below, we discuss what might happen if you do get caught, as others have before.
Be Aware of the Risk You Run
You are committing fraud against the United States Federal Government and the Treasury Department if you accept a fraudulent PPP loan. You can rest assured that they are not taking these transgressions lightly at all.
The federal government of the United States has taken strong action against multiple cases of pandemic fraud that targeted relief programs such as the PPP and Unemployment Insurance (UI) Programs.
The Department of Justice has made the following information publicly available as of March 26, 2021:
- Four hundred seventy-four defendants have been charged with criminal offenses as a result of fraudulent schemes that attempted to obtain over $569 million from the United States government and individuals who were not paying attention.
- In connection with a PPP fraud scheme that was worth $11 million, additional charges have been brought against 22 individuals.
- A man, age 46, was given a sentence of two years in prison for participating in a Covid-19 relief fraud scheme.
- A man from Texas pled guilty to the charge of obtaining more than $1.6 million in government-guaranteed loans, according to reports.
Even well-known celebrities have been investigated and sometimes charged with wrongdoing in connection with fraudulent PPP loan schemes. On this list are famous people such as Kanye West (for his clothing and sneaker brand, Yeezy), Reese Witherspoon, and others (for her clothing brand, Draper James).
Although these celebrities have not been found to have engaged in fraudulent activity regarding their PPP loans, other individuals have.
Mo Fayne, a rapper who formerly appeared on Love & Hip Hop: Atlanta, was given a prison sentence of 17.5 years and ordered to pay restitution in the amount of $4.4 million. Josh Bellamy, a player for the NFL, was taken into custody for his alleged involvement in a PPP fraud scheme in which individuals applied for more than $24 million in loans.
A Few Words in Closing
To scam the US government itself is no mean feat. Take all the precautions you need because this is going to warrant everything and more. The witch hunt is real, with people still getting arrested and fined in 2022. Don’t make any stupid purchases–the sudden purchase of Lamborghinis and Ferraris and Teslas is how people get caught, so once you have the money in your hands, it is best if you keep your head down.
Above all, be cautious with how you go about doing this. Make sure the documents you submit are above reproach and as authentic as you can make them. Take your time, and don’t rush this one. The PPP carding scam is worth it to this day, and you will want to be sure to give yourself every possible advantage.