//DOL estimates $36 Billion lost in CARES Act fraud and misuse

DOL estimates $36 Billion lost in CARES Act fraud and misuse

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Funding from programs like PUA and FPUC provide necessary funds and relief. However, evidence shows that up to 10% of the over $360 billion provided through the CARES Act may be victim of fraud. The Department of Labor’s Office of the Inspector General reported:

Conservatively, assuming improper payments continue at 10 percent, at least $36 billion of the $360 billion expended under the CARES Act, as of November 7, 2020, could be paid improperly, with a significant portion attributable to fraud.

U.S. Department of Labor Inspector General’s Office

USA Today further investigated where the misused funds may have ended up. To see there findings, click here.