Blake Hall, CEO of ID.me, a service that tries to prevent this kind of fraud, tells Axios that America has lost more than $400 billion to fraudulent claims. As much as 50% of all unemployment monies might have been stolen, he says. Haywood Talcove, the CEO of LexisNexis Risk Solutions, estimates that at least 70% of the money stolen by impostors ultimately left the country, much of it ending up in the hands of criminal syndicates in China, Nigeria, Russia and elsewhere.
Half of the pandemic's unemployment money may have been stolen
Our grandchildren will be paying off the massive debt for making overseas scammers rich.
It looks like China allowed the virus to escape, then stole billions in benefits intended for those unemployed from the resulting lockdowns.