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According to experts, half of Covid’s unemployment stimulus could have been stolen and up to $ 400 billion sent to China and Russia.

Some experts have warned that half of the coronavirus-related unemployment could have been stolen by Russia and China.

According to experts, an estimated $ 400 billion of unemployment distributed during the pandemic is fraudulent and most of the money goes to foreign criminal gangs.

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An estimated $ 400 billion of unemployment distributed during the pandemic could have been a scamCredit: AP

ID.me CEO Blake Hall warns that the country has lost more than $ 400 billion in fraudulent claims.

Hall said the company is trying to stop this kind of scam Axios Half of all unemployment could have been stolen.

The money may have fallen into the hands of criminal organizations operating in China, Nigeria, Russia and other countries.

“These groups are definitely state-backed,” Haywood Talcove, CEO of Lexis Nexus Risk Solutions, told Axios.

The state was overwhelmed and did not properly investigate unemployment insurance claims

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The state was overwhelmed and did not properly investigate unemployment insurance claimsCredits: Getty

Mr. Tarcove warned that at least 70% of the stolen money had left the country and was likely to be used by these illegal groups.

When a pandemic broke out and millions of people across the country experienced record unemployment, many states weren’t ready for the massive burden of unemployment claim processing.

As a result, more states have chosen to fund those who need to know that fraud is inevitable.

“The widespread state-level fraud in pandemic unemployment insurance during the previous administration is one of the most serious challenges we have inherited,” said Jean Sperling, an economist at the White House.

“President Biden has made it clear that this kind of activity from criminal gangs is sneaky and unacceptable,” Sparring continued.

“That’s why the US Rescue Program gave $ 2 billion to UI modernization and set up the Justice Department’s Anti-fraud Task Force and all governments’ privacy and public interest initiatives.”

Economists praise the government’s stimulus during the Covid crisis because Biden did not commit to the fourth plan



According to experts, half of Covid’s unemployment stimulus could have been stolen and up to $ 400 billion sent to China and Russia.

Source link According to experts, half of Covid’s unemployment stimulus could have been stolen and up to $ 400 billion sent to China and Russia.

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