Half of pandemic unemployment was stolen, Admin knew fraud was inevitable

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“They all knew fraud was inevitable but decided getting the money out to people who desperately needed it was more important than laboriously making sure all of them were genuine.”

Criminals may have stolen as much as half of the unemployment benefits the U.S. has been pumping out over the past year, some experts say. The Biden administration is blaming Donald Trump, but how is letting money pour out unchecked now Trump’s fault?

Unemployment fraud during the pandemic could easily reach $400 billion, according to some estimates, and the bulk of the money likely ended in the hands of foreign crime syndicates — making this not just theft, but a matter of national security.

Let Gangs, Nigeria, Russia, China Take It

They all knew fraud was inevitable, but decided getting the money out to people who desperately needed it was more important than laboriously making sure all of them were genuine, Axios reports.

Blake Hall, CEO of ID.me, a service that tries to prevent this kind of fraud, tells Axios that America has lost more than $400 billion to fraudulent claims. As much as 50% of all unemployment monies might have been stolen, he says.

Haywood Talcove, the CEO of LexisNexis Risk Solutions, estimates that at least 70% of the money stolen by impostors ultimately left the country, much of it ending up in the hands of criminal syndicates in China, Nigeria, Russia, and elsewhere.

“These groups are definitely backed by the state,” Talcove tells Axios.

Much of the rest of the money was stolen by street gangs domestically, who have made up a greater share of the fraudsters in recent months, reports Axios.

It’s Trump’s Fault

White House economist Gene Sperling blamed Trump of course. But it was this administration that refused to provide oversight.

Biden said it’s “despicable and unacceptable” so he added yet another [soon-to-be-bloated and ineffective government agency] — a Department of Justice Anti-Fraud Task Force and an all-of-government Identity Theft and Public Benefits Initiative.

Biden is doing nothing about the countries who were behind so much of the theft, not even sanctioning them. But they all like him.

We have money to burn, no problem.


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