Newsroom Press releases

Preventing misuse of Corona funds through online reporting systems

Berlin, 23 April 2020 After weeks of restrictions on public life in the wake of the Sars-CoV-2 virus pandemic, the first nationwide easing of restrictions was decided this week. Will these take effect or will they lead to a new wave of infection, which would possibly result in a second lockdown? The long-term effects of the worldwide pandemic are far from being foreseeable. Meanwhile, the financial damage is estimated to be in the six-digit billion range. State aid from taxpayers' money is therefore an important instrument for cushioning the economic damage. However, misuse of Corona funds is a recurrent problem. How can the economy and ultimately society protect itself against this?

Subsidy fraud is not a trivial offence: Preventing misuse of Corona funds through online whistleblower systems

The federal government has provided several billion euros in Corona funding, which is intended to quickly support especially small and medium-sized companies and freelancers in an unbureaucratic way. Unfortunately, however, there have also been isolated cases of misuse or unjustified benefit, with regard to the request and provision of funds. As a result, large sums of money that are urgently needed elsewhere get lost. How can development banks and other financial institutions prevent this misuse to the detriment of the general public in a simple and straightforward manner?

One solution could be web-based whistleblowing systems that support detection and prevention and thus effectively counteract the misuse of corona funds. Online whistleblower systems enable the confidential transmission of information to the respective institutions, which can use this information to take further steps to clarify the matter. In this way, it can be guaranteed that the aid money goes to the right place and is not misused.

Solidarity, values and public spirit instead of profit maximisation or shareholder value: Business Keeper AG offers development banks free use of its whistleblower system

Numerous public authorities, banks and financial service providers have been working successfully with online whistleblower systems for many years. As a long-standing partner of public authorities and banks, Business Keeper AG from Berlin has been a pioneer for almost 20 years in the field of online solutions that help ensure compliance with rules and laws and establish better business ethics. In the current situation, the Berlin software company wants to offer the most effective support possible: With little effort, development banks can integrate a secure and confidential reporting channel on their website, the "BKMS® Quick Response", and thus be quickly informed about possible cases of abuse. Since the difficult economic situation is expected to last for several months, the company would like to make the use of the "BKMS® Quick Response" available to the development banks free of charge until the end of 2020.

Kenan Tur, Member of the Management Board, who founded Business Keeper AG 20 years ago out of an intrinsic motivation, explains: "In these difficult times, the containment of infections and thus the health of each individual must be a top priority. Only if we act as a community based on the same values can we overcome this crisis in the best possible way. As a company, we also feel an obligation to society and want to play our part in this. Neither profit maximization nor shareholder value should be our primary concern."

Related News