The federal government lost up to half a trillion dollars to fraud each year over a five-year period, according to an April 15 report from the Government Accountability Office.
That’s enough to employ a million people for seven years or purchase a million homes.
Federally funded, state-run programs are major targets, according to April 15 testimony from Robert Westbrooks, former federal inspector general. Westbrooks said problems can occur when states control the disbursement of federal funds because that can reduce accountability and incentives.
Based on data from fiscal years 2018 through 2022, the federal watchdog estimated that the federal government lost between $233 billion and $521 billion annually to fraud….
$521 Billion Fraud Landscape: What to Know
