Last year, the Government Accountability Office released a report estimating the federal government loses as much as $521 billion a year to fraud. But Miller and other fraud experts believe the number is higher. Linda Miller: I believe the government is losing between $550 billion and about $750 billion a year.
... The problem exploded during the pandemic when the government rushed trillions of dollars ... ... a lot of the people who stole that money were foreign adversarial nation states. Cecilia Vega: So who are they? Who are you talking about? Linda Miller: We're talking about China. We're talking about Russia. Cecilia Vega: Impersonating Americans, in a lot of cases? Linda Miller: Yes. ... used stolen personally identifiable information and essentially created fraudulent unemployment claims, and then those proceeds were laundered through shell companies, and that money was sent back to these individuals in China. ...
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timeasmymeasure
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Date: 2025-05-14 04:27 pm (UTC)no subject
Date: 2025-05-16 04:35 am (UTC)https://www.msn.com/en-us/news/us/the-fraud-costing-the-federal-government-hundreds-of-billions-a-year/ar-AA1EzOZK
Last year, the Government Accountability Office released a report estimating the federal government loses as much as $521 billion a year to fraud. But Miller and other fraud experts believe the number is higher.
Linda Miller: I believe the government is losing between $550 billion and about $750 billion a year.
... The problem exploded during the pandemic when the government rushed trillions of dollars ...
... a lot of the people who stole that money were foreign adversarial nation states.
Cecilia Vega: So who are they? Who are you talking about?
Linda Miller: We're talking about China. We're talking about Russia.
Cecilia Vega: Impersonating Americans, in a lot of cases?
Linda Miller: Yes.
... used stolen personally identifiable information and essentially created fraudulent unemployment claims, and then those proceeds were laundered through shell companies, and that money was sent back to these individuals in China. ...