Half of the US’s pandemic unemployment benefits ended up in the hands of fraudsters

According to the head’s estimates ID.me Blake Hall, we are talking about the amount of $400 billion.

Almost half of the total amount of all unemployment payments in the United States during the pandemic, $400 billion was in the hands of fraudsters. Such an assessment on Thursday leads the Internet portal Axios with reference to the company ID.me, which specializes in the protection of personal data.

According to the head of the company, Blake Hall, up to 50% of all payments were probably stolen by criminals using false applications for benefits, which used stolen personal data of US citizens. According to his estimates, we are talking about the amount of $400 billion.

According to the analytical firm LexisNexis Risk Solutions, up to 70% of the stolen funds subsequently ended up abroad. The size of the amount and the cross-border nature of the fraud put this situation at the level of national security concerns, Axios believes.

The US Treasury Department did not comment on this information.

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Author: Steve Cowan
Graduated From Princeton University. He has been at the Free Press since October 2014. Previously worked as a regional entertainment editor.
Function: Chief-Editor

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