More than a quarter of a trillion dollars in government aid has been fraudulently misappropriated in the United States during the coronavirus pandemic, a congressional report says.
“Scammers have caused more than $191 billion in damage to American taxpayers by exploiting the federal unemployment insurance system and using citizens’ personal information,” the report, published by the House Oversight Committee’s Covid Subcommittee, said.
In addition, at least another $64 billion in public money has been stolen and embezzled in the United States by fraudsters and criminals who exploited the so-called Paycheck Protection Program, in which the government provided financial assistance to Americans in the form of loans that could be written off if the money was used to offset hardships caused by the pandemic.
The congressional report also noted that another $200 million was “lost” due to insufficient oversight of support for small businesses.
source: almaalomah.me
