Half of COVID-19 Unemployment Funds May Have Been Stolen via Fraudulent Claims: Experts

Blank checks are run through a printer at the U.S. Treasury printing facility in Philadelphia, Pennsylvania, on Feb. 11, 2005. William Thomas Cain/Getty Images

Several experts, including the CEO of a fraud prevention service, estimated that criminals have stolen as much as half of all the expanded unemployment insurance funds that were authorized starting in March of last year.

Blake Hall, the CEO of fraud prevention service ID.me, told Axios this week that the United States has lost approximately $400 billion via fraudulent unemployment insurance claims, or as much as 50 percent. The Epoch Times has reached out to ID.me for comment.