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The biggest heist in American history
Manage episode 356889997 series 2829127
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Our largest and most vital US public government programs — food stamps (SNAP), Medicaid, Temporary Assistance for Needy Families (TANF), unemployment insurance and even the tax system — are being systematically plundered by domestic and transnational criminals who are intent on disrupting our way of life. Woody Talcove knows this because for 14 years, he has been on the frontlines of securing government agencies from fraudsters, cybercriminals and adversaries. The level of fraud is possibly the biggest heist in American history. To put things in perspective, US government published preliminary data showing that in 2021 alone, it was defrauded by $277bn. And that relates to the unemployment insurance programme alone.
Fraud is not only a problem for taxpayers and the federal budget. Fraud wreaks havoc on individuals’ lives and the people who suffer are those who need the most support. If fraud losses were stopped, they could pay for free childcare for every family in America. The time for complacency has come to an end. It is time to treat this as an national emergency. This podcast episode is a wake up call.
Haywood ‘Woody’ Talcove is CEO of LexisNexis Risk Solution’s government business.
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