US Fraud Losses May Hit $1 Trillion As Digital Gangs Exploit Stolen American Identities, Ex-GAO Official Says, With FBI Cyber Division Chief Admitting: 'All Of Our Personally Identifiable Information… Is Available On The Dark Net' For Just $2
- A 60 Minutes report aired Sunday evening detailed widespread fraud exploiting U.S. Federal spending, involving foreign actors and organized crime rings.
- The fraud surged during the COVID-19 pandemic when rapid online aid delivery allowed criminals, mostly from Russia and China, to exploit stolen American identities.
- Fraud rings used stolen personally identifiable information to submit fraudulent unemployment claims and disaster loan applications, with proceeds laundered internationally.
- Experts estimate that annual federal fraud losses range from $550 billion to $750 billion, including $6 billion fraudulently taken from pandemic unemployment benefits. FBI cyber division head Bryan Vorndran described these fraud networks as modern-day digital criminal groups operating with impunity.
- The Department of Government Efficiency and various agencies collaborate to identify fraud, but officials acknowledge limited recovery and uncertain progress against sophisticated global fraud schemes.
7 Articles
7 Articles
$1 trillion of pandemic relief was lost to fraud, and nearly every American's personal data is for sale online: '60 Minutes'
A stunning report from "60 Minutes" supported some of the more shocking claims of egregious fraud and abuse in federal spending by President Donald Trump and the Department of Government Efficiency. The report aired Sunday evening and included interviews with Bryan Vorndran, the head of the FBI's cyber division, as well as fraud expert Linda Miller, who worked at the U.S. Government Accountability Office. 'They begin buying stolen identities so …
60 Minutes Admits U.S. Gov. Loses Up to $750 Billion in Fraud Per Year, Knock DOGE Anyway
While the liberal media previously scoffed at the necessity of the Department of Government Accountability (DOGE), suggesting that the federal government wasn’t losing a significant amount of money through fraud, CBS’s 60 Minutes did something astounding on Sunday night: admit the truth. Cecilia Vega actually spoke with a former official with the Government Accountability Office (GAO) who suspected the U.S. was approaching nearly $1 trillion in …
US Fraud Losses May Hit $1 Trillion As Digital Gangs Exploit Stolen American Identities, Ex-GAO Official Says, With FBI Cyber Division Chief Admitting: 'All Of Our Personally Identifiable Information… Is Available On The Dark Net' For Just $2
The U.S. government is hemorrhaging hundreds of billions of dollars every year to fraud, a chunk of which is leeched by sophisticated overseas digital crime rings using stolen identities.
Fraud rings steal billions using U.S. identities
CBS News reports that the U.S. government is facing a staggering fraud crisis, with experts like Linda Miller warning that criminals, often transnational crime rings and foreign state actors, are exploiting public assistance programs using stolen American identities. Introduction to Malware Binary Triage (IMBT) Course Looking to level up your skills? Get 10% off using coupon code: MWNEWS10 for any flavor. Enroll Now and Save 10%: Coupon Code MW…
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