During the chaotic days of the pandemic, it’s alleged that an international ring of nefarious fraudsters stole over $400 billion from the U.S government. This staggering amount is around 50% of unemployment monies paid out.
The story sounds like a script for an upcoming movie starring George Clooney. Bad actors from around the world including China, Russia, Nigeria, Romania and right here at home, wantonly looted unemployment funds earmarked for out-of-work Americans by perpetrating fraudulent claims. Unknowingly, naive Department of Labor workers sent out checks to bad guys.
Haywood Talcove is the CEO of LexisNexis Risk Solutions. His firm powers identity-verification for the nation’s top 50 banks. The company is on the front lines of focusing on regulatory, fraud and other related matters. Talcove’s LinkedIn bio headline reads “Stopping fraud, catching bad people.”
In an about an hour long conversation, Talcove told me about the brazen massive theft from right under the noses of the U.S. government.