Washington, September 10: JPMorgan Chase & Co recently found out that some of its employees improperly applied for and received COVID-19 relief money that was intended for legitimate US businesses hurt by the pandemic, according to a Bloomberg report. The company is trying to find abuse of Paycheck Protection Program loans and other pandemic relief programs by its employees.

The bank noticed that suspicious amounts of money had been deposited into checking accounts owned by bank employees. In a memo to staff on Tuesday, JPMorgan urged employees to be "vigilant" about fraud involving government stimulus programs.

JP Morgan Probes Role of Its Employees who have improperly applied and received COVID-19 relief funds: 

JPMorgan urged employees to "say something" if they see improper conduct, including reporting confidentially to managers or through the bank's conduct hotline: "We take each report seriously and will take action, including disciplinary, when warranted." There has been no news on whether the bank has taken disciplinary action against the employees.

(The above story first appeared on LatestLY on Sep 10, 2020 07:44 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).