zerohedge.com 10 Jun, 2021 16:30 am

Half Of Pandemic Unemployment Funds May Have Been Stolen: Axios

Half Of Pandemic Unemployment Funds May Have Been Stolen: Axios
ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero

According to some estimates, unemployment fraud during the pandemic could 'easily reach $400 billion,' as states weren't prepared for the unprecedented wave of unemployment claims States knew that fraud was inevitable, but opted to rush money out to people with minimal oversight, as opposed to laboriously vetting each application.me - a fraud prevention service, America has lost over $400 billion to fraudulent claims, with as much as 50% of all unemployment payments possibly being stolen.The big picture: Before the pandemic, unemployment claims were relatively rare, and generally lasted for such short amounts of time that international criminal syndicates didn't view them as a lucrative target.-Axios What's more, unemployment fraud can now be obtained on the dark web on a software-as-a-service (SAAS) basis - similar to ransomware.

strong Scammers often steal personal information and use it to impersonate claimants.Other groups trick individuals into voluntarily handing over their personal information.

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