A rush to provide financial assistance to Americans forced out of their jobs in the COVID-19 pandemic resulted in a $191 billion bonanza for fraudsters, according to chairman of the House Ways and Means Committee Rep. Jason Smith (R-Mo.).
“There’s no question folks needed help, which is exactly why Congress should have protected this program and those who needed it against the criminals who exploited it to commit fraud,” Smith wrote in a statement released at a hearing on Feb. 8.
The Bureau of Labor Statistics reported that in April 2020, the unemployment rate reached a record high of 15 percent after lockdowns to slow the spread of the CCP (Chinese Communist Party) virus, commonly known as the novel coronavirus, closed many businesses. Between March 14, 2020, and April 18, 2020, weekly unemployment claims increased dramatically from 225,500 to 5.3 million….