Congress approved more COVID-19 funds and some lawmakers are worried about scammers taking advantage of it

BTN STAFF

Congress is set to approve quarter-trillion dollars in COVID-19-related unemployment benefits. The $1.9 trillion stimulus package is headed to Congress this month and will include $260 billion in unemployment insurance.  

Some lawmakers and cybercrime experts are worried that the new windfall of money will open the door for scammers to take advantage of it.   “It’s like Christmas for the fraudsters,” stated Haywood Talcove, chief executive of information firm LexisNexis Risk Solutions.  

Senate Finance Committee Chairman Ron Wyden (D-Ore.) has proposed putting the 53 separate state and territory unemployment systems under the technological umbrella of the federal government, similar to healthcare.gov marketplace.  

Federal officials have stated that at least 10% of the $450 billion unemployment benefits released last year  was pocketed by criminals. California says it lost at least $11 billion and perhaps as much as $30 billion, or a third of what it got from the federal government. To read more about this story click here.  

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