It was alleged that up to $ 400 billion of COVID unemployment relief was stolen and more than half was sent to criminals in Russia, China and Nigeria.
Blake Hall told Axios that the United States lost 50% of all unemployment relief, $ 400 billion, through fraudulent claims. Hall is the CEO of ID.me, the CEO of fraud prevention services.
Some experts consider theft a national security issue, and cash is in the hands of criminal groups based in Russia, China and Nigeria.
Haywood Talcove told Axios that more than 70% of the $ 400 billion he feared to be stolen was stolen by state-sponsored foreign criminal groups.
“These groups are definitely state-backed,” said Talcove, CEO of LexisNexis Risk Solutions.
US street gangs reportedly stole much of the remaining money.
Fraud prevention experts claim that up to half of unemployment benefits could have been stolen during the COVID-19 pandemic in the United States.
Blake Hall on the left said the United States lost 50% of its total unemployment relief, $ 400 billion, due to fraudulent claims. Haywood Talcove said more than 70% of the stolen money was stolen by state-sponsored foreign criminal groups.
The chart shows the number of new US unemployment claims that have declined since the launch of the COVID-19 pandemic.
White House economist Gene Sperling told Axios that many of the scams occurred during the administration of former President Donald Trump.
“The widespread state-level fraud in pandemic unemployment insurance during the previous administration is one of the most serious challenges we have inherited,” Sperling told Axios.
“President Biden has made it clear that this kind of activity from criminal gangs is sneaky and unacceptable, so he gave $ 2 billion to UI modernization in the U.S. rescue program with the Justice Department’s Fraud Prevention Task Force. Established a personal information theft and public interest initiative for all governments.
Experts and politicians assumed that fraud would steal some money because state unemployment systems across the country were not ready to meet pandemic demands.
However, the quotes provided by Hall and Talcove show an incredible range of potential unemployment insurance scams last year.
Axios could have tricked the government by stealing people’s personal information and impersonating them for money, while others tricked the actual claimant into giving the information. I explained that I may have provided it.
When information is stolen, a low-level criminal called a “mule” withdraws money from an ATM and converts it into Bitcoin. Bitcoin is sent in an untraceable way and is sent abroad.
On its website, the U.S. Department of Labor states that most victims of unemployed personal information theft are “unaware that a claim has been filed and collected using personal information.”
“Many people only know that unemployment personal information has been stolen when they receive something by mail. For example, payments or state-issued 1099-G tax returns are incorrect, or benefits are For example, it has not been received, “reads the website.
The Ministry of Labor maintains a database of individual state contact information for those who believe they are victims of unemployed personal information theft.
Activists take part in protests outside the Old Ebit Grill and demand a full minimum wage, including tips for restaurant workers in Washington, DC.
People walk by a help call sign in the Queens district of New York City on June 4, 2021 in New York City.
In April, the IRS said it documented “a surge in fraudulent unemployment insurance claims filed by organized crime rings using stolen identities.”
“The Justice Department has recently created a website that mimics unemployment benefits websites, including the State Labor Agency (SWA) website, for fraudsters to illegally obtain consumer personal information. I warned, “reads the IRS website.
“In order to direct consumers to these fake websites, scammers claim to be from SWA and send spam text messages and emails containing links.”
The note continues:’Fake websites are designed to trick consumers into thinking they are applying for unemployment benefits and disclose personally identifiable and other sensitive data. That information can be used by fraudsters to commit theft of personal information.
According to the Ministry of Labor, the US economy increased 559,000 jobs last month and the unemployment rate fell to 5.8%.
Experts claim that half of all COVID unemployment relief was stolen
Source link Experts claim that half of all COVID unemployment relief was stolen