Report Indicates Up to $400 Billion in US Pandemic Aid Estimated Lost or Stolen by Criminal Aliens, Domestic Fraud – The Published Reporter®

It is estimated that a whopping $400 billion of US taxpayer dollars was never distributed to those in need, but ended up in the hands of criminals in China, Nigeria, Romania and Russia. Stock Photo: Cinemato, Shutter Stock, licensed.

WASHINGTON, DC – A staggering amount of funds earmarked for pandemic unemployment relief aid in the United States, through foreign criminal enterprises and domestic bureaucratic blunders, missed their recipients and have been stolen, a new report indicates. . I’m lost.

A whopping $400 billion from American taxpayers that was originally earmarked for American families and businesses that had been negatively impacted by the COVID-19 pandemic, thanks to the Coronavirus Aid, Relief, and Economic Security Act (CARES) in 2020 and the Consolidated Appropriations and Coronavirus Response Act in 2021: It is estimated that it was never distributed to those in need, but ended up in the hands of criminals in China, Nigeria, Romania and Russia.

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The vast majority of that $400 billion, perhaps as much as half, is said to have been allegedly taken by foreign crime syndicates, raising national security questions about how secure US government computer systems can be. .if a criminal entity from another country can steal such a large amount of wealth from US citizens.

Additionally, US Department of Labor Inspector General Larry Turner confirmed in March that $163 billion of those pandemic-related unemployment funds were likely lost to benefits fraud that could have been caught early were it not for bureaucratic errors and identity theft.

However, the rapid implementation of unemployment funds left agencies at both the federal and state levels, which had never before had to deal with large-scale fraud, ill-prepared to deal with it.

This revelation prompted Senate Homeland Security and Governmental Affairs Chairman Gary Peters (D-MI) to criticize local governments that were tasked with safely distributing pandemic relief funds to those who really needed them.

Instead of a comprehensive review of an applicant’s eligibility, many programs substituted this requirement with faster self-reported information, which contributed to funds being mistakenly sent to deceased individuals; ineligible applicants, for fraudulent criminal schemes,” she said.

Most domestic fraud was the result of data breaches that allowed criminals to obtain personal information from individuals, which experts say is then sold on the dark web for pennies on the dollar.

Woody Talcove, CEO of LexisNexis Risk Solution, estimated the pandemic unemployment insurance fraud rate to be approximately 18.71 percent, higher than the rate for any other US government program currently in existence.

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