Fraud: $163 BILLION in COVID Unemployment Funds Stolen

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An estimated $163 billion in pandemic-related benefits were fraudulently obtained by criminals, according to the Labor Department. The Biden administration said that it inherited the problem and blamed out-of-date systems and the lack of state-by-state data sharing. Just $4.1 billion of that has been recovered, only 2.4% of the estimated stolen, raising concern the government is not going to get most of it back.

COVID-19 pandemic unemployment benefits wound up being a “a magnet for rip-off artists,” as identity thieves capitalized on rushed benefits the government was not geared up for in a pinch, The Washington Post reported Sunday.

An estimated $163 billion in pandemic-related benefits were fraudulently received, according to the Labor Department.

Just $4.1 billion of that has been recovered, only 2.4% of the estimated stolen, raising concern the government is not going to get most of it back.

“The unprecedented explosion of unemployment claims, combined with years of disinvestment in our unemployment system, lack of state-by-state data sharing and weak identity controls, created a perfect storm for the fraud and identity theft in 2020 that we inherited,” adviser to President Joe Biden, Gene Sperling, told the Post in a statement.

The level of fraud is so prevalent, the $163 billion might be on the low end, according to the report.

“It’s obviously substantial,” U.S. Secret Service’s Roy Dotson, the national pandemic fraud recovery coordinator, told the Post. “I can’t really get into the number.

“We’re all trying to figure that out.”

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Jon Nellis
Jon Nellis
1 month ago

LOL, Does anyone understand they have been stealing / losing YOUR wealth for centuries? Does anyone understand that the need for administration / gov is only necessary when people actually WORK, productive labor that creates the goods required for life. Those goods not toys, are what creates a MARKET for exchange. That MARKET requires the TOOL that is MONEY to EASE that exchange. That TOOL that is MONEY is SANCTIONED by YOU THE PEOPLE who actually LABOR and create a product. It is YOUR money/ wealth/ labor by LAW, (article 1 section 8) at least it was until 1913, IRS… Read more »

Ragnar D.
Ragnar D.
1 month ago

It’s probably even worse than that. I remember at the beginning of the PLANdemic hearing family, friends, and acquaintances talking about how they were going to apply for their “Paycheck Protection Program” funds even though they were running their businesses pretty much normally. These were not trivial amounts of money, usually in the tens-of-thousands of dollars. It’s like a pack of wild dogs gnashing away at the rotting carcass that is the fiat money financial system.

Brett Gleason
Brett Gleason
1 month ago

I didn’t accept a dime of their blood money, nor did many of my brothers who live under bridges or in the surrounding woods. Trying to buy our compliance. Fuck them. We rather rot than accept anything from these traders.
The government does not give away free money to anyone, that should have been your clue to what they’re up too. For educated people you all do not seem to smart to me.
Best pull your heads out of the sand and prepare because we can’t save everyone.
Money is evil, choose, life or money?.