Experts Say $400B in Pandemic Unemployment Funds Likely Stolen

Some experts say unemployment fraud during the coronavirus pandemic could easily reach $400 billion, with most of that money likely ending up in the hands of international crime syndicates in China, Nigeria, Russia and elsewhere, Axios reports.

The federal government has allocated more than $896 billion to state unemployment insurance programs since March 2020, according to the U.S. Department of Labor’s Office of Inspector General, including enhanced benefits of $300 a week.

But many states weren’t prepared for the influx of unemployment claims filed in the first few months of the pandemic due to ancient computer systems, fewer workers to process claims and strict eligibility requirements.

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