Half of all unemployment money was stolen by criminals during pandemic, experts say | Fox Business

Unemployment fraud surged during the coronavirus pandemic, with billions of dollars likely ending up in the hands of foreign crime syndicates based in China, Russia and other countries, experts say.

As much as $400 billion in unemployment benefits may have been fraudulent, according to one estimate by ID.me, FOX Business confirmed. That amounts to about 50% of unemployment money, according to the company, which uses facial recognition software to verify identities.

Source: Half of all unemployment money was stolen by criminals during pandemic, experts say | Fox Business