WASHINGTON, DEC 3 – More than US$250 billion was stolen in the United States (US) as a result of fraudulent schemes in the payment of government assistance during the COVID-19 pandemic, according to a report by US congressmen following a two-year investigation.
“Fraudsters have cost American taxpayers more than US$191 billion by taking advantage of the federal government’s unemployment system and exploiting individuals’ personal information,” said a report published by the Select Subcommittee on the Coronavirus Pandemic.
In addition, at least US$64 billion of US government funds have been stolen by fraudsters and criminals who took advantage of the “Payroll Protection Program” which provides financial assistance in the form of forgivable loans if the funds are used to overcome difficulties due to the pandemic.
At the same time, around US$200 million has been lost due to poor control of support for small businesses. – Named
