Sec. Bessent: The US Lost $233B-$521B to Fraud Alone in Four Years

In an interview with journalist Christopher Rufo, Treasury Secretary Scott Bessent revealed a shocking statistic. Hundreds of billions in the U.S. budget are being thrown down the sewer on waste, fraud, and abuse each year.

The information comes from the General Accounting Office (GAO).

A GAO analysis found that between $233 billion and $521 billion was lost annually due to fraud during fiscal years 2018 through 2022.

Since fiscal year 2003, improper payments — separate from fraud — have likely cost taxpayers about $2.8 trillion, the GAO also found.

It’s good to know someone is looking into it. The US has long been a piggy bank for criminals. Then, we imported even more of them.

Yup https://t.co/Vsz2zTxVGW

— Elon Musk (@elonmusk) January 11, 2026

He is putting in a whistleblower program to seek out fraudsters. He used Minnesota as an example.

“One of the Somali fraudsters tried to bribe a juror with $120,000. As it turned out, she had been given $200,000 to bribe the juror,  and she skimmed $80,000.” Secretary Bessent said “it’s in their nature.”

EXCLUSIVE: Treasury ⁦@SecScottBessent⁩ tells me that the Trump Administration will launch investigations into left-wing nonprofits that serve as a front for violent protests and criminal obstruction of ICE operations. It’s time to stop left-wing terrorism in America. pic.twitter.com/roorsk4XLA

— Christopher F. Rufo ⚔️ (@christopherrufo) January 9, 2026

The Treasury is also investigating ActBlue. A tremendous amount of cash flows through ActBlue and some of it appears to be from foreign entities influencing the election.

The ActBlue Investigation

What is happening with the ActBlue investigation? In April, President Trump directed the Justice Department to investigate ActBlue, the fundraising platform that powers virtually every Democratic candidate and cause.

The New York Times claimed it was merely an effort to disable a political opponent. The Times treats every investigation of the Left as nothing more than a partisan attack.

However, in April, the House Judiciary Committee, the Committee on House Administration, and the House Committee on Oversight and Government Reform released a joint interim staff report titled, “Fraud on ActBlue: How the Democrats’ Top Fundraising Platform Opens the Door for Illegal Election Contributions.” This report reveals that ActBlue made its fraud-prevention rules “more lenient” twice in 2024—even though there is extensive fraud on the platform, including from foreign sources.

People can read it for themselves to determine if there is cause.

The House Judiciary reports that documents show that ActBlue executives and staff are aware that both foreign and domestic fraudulent actors are exploiting the platform, but do not take the threat seriously. In fact, they attempted to hide the changes to avoid sparking discussions about fraud on the platform. For example, ActBlue’s training guide for new fraud-prevention employees instructed them to “look for reasons to accept contributions,” rather than err on the side of flagging suspicious donations. Internal communications further reveal that, rather than seeking to reduce or eliminate fraud, ActBlue’s chief fraud-prevention official was willing to accept 10 percent more fraud while focusing on DEI. Additionally, in a thirty-day window during September and October 2024, ActBlue detected 237 separate donations made from foreign IP addresses using domestic prepaid cards.

BREAKING: The Hollywood Democrats are sending out texts fundraising off of Renee Good. They plan to put up billboards threatening ICE and demand agents be arrested & prosecuted.

This is run through ActBlue.

The Democratic Party officially endorses violence against law… pic.twitter.com/9ITyAaaIde

— Libs of TikTok (@libsoftiktok) January 11, 2026