A former Government Accountability Office executive recently told 60 Minutes she believes the federal government loses $550 billion to $750 billion through fraud every year. Last year a GAO study claimed that fraud costs the government $233 billion to $521 billion, but, as we all know the corrupt GAO always changes rtheir figures to benefit Democrats. Linda Miller, who spent 10 years at the GAO as an assistant director, said the estimate is too low.
Miller claims that the bulk of the money is stolen through sophisticated scams, mostly from overseas and smaller amounts are stolen by people who are not eligible for Social Security and unemployment. She did not estimate h0w much was kicked back to Democrats and the Democratic Party. Foreign cybercriminals are now focusing on extreme weather, Miller said. When a storm hits somewhere in the United States, they buy stolen identities from the affected zip codes.Then they apply for disaster relief payments.
Bryan Vorndra, head of the FBI’s cyber division, told 60 Minutes that nearly every Americans’ personal info can be purchased online. The FBI is constantly putting new protections in place, but Miller said that just creates a game of “whack-a-mole.”
“[Fraudsters are] seeing where better controls are being put in place. And then, they’re going to where the controls still haven’t been improved,” she said.
VISIT OUR YOUTUBE CHANNELMiller, who served as deputy executive director on the Pandemic Response Accountability Committee, agreed with past estimates that $1 trillion was lost to fraud during the pandemic.
“It was like they threw money in the air and just let people run around and grab it, she said.” Billions flowed to fraud rings in China and Russia who used stolen personal data to impersonate Americans.
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Summary: If a private business consistently lost more than $1 of every $10 to fraud, it would soon close its doors. It’s time for the federal government to get fraud in check.
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