Half of the pandemic's unemployment money may have been stolen
By Felix Salmon, Axios
Experts say unemployment fraud could reach $400 billion during the COVID-19 pandemic. International crime syndicates and other criminals may have stolen as much as half of the unemployment benefits the U.S. has been sending out since the start of the pandemic.
“By the numbers: 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.”