Haywood Talcove, Department Of Labor, Cobol, Blake Hall, Lexis Nexis, Unemployment, Fraud, Filing For Unemployment, Criminal Actitivy, $400 Billion Heist

Haywood Talcove, Department Of Labor

The Most Brazen $400 Billion Unemployment Funds Heist In History

The Most Brazen $400 Billion Unemployment Funds Heist In History

6/13/2021 8:24:00 AM

The Most Brazen $400 Billion Unemployment Funds Heist In History

During the chaotic days of the pandemic, it's alleged that an international ring of nefarious fraudsters stole over $400 billion from the U. S government.

according to some estimates, and the bulk of the money likely ended in the hands of foreign crime syndicates — making this not just theft, but a matter of national security.”Talcove points out what now seems obvious. The U.S. relies upon an antiquated technology infrastructure, COBOL, a programming language that’s decades old and hopelessly flawed compared to the modern softwares we have.

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What happened in California highlights governmental ineptitude, leading to obvious criminal actions. Talcove points out the world moved on from the 1980’s COBOL, but the California Labor and Workforce Development Agency didn’t. When the outbreak happened, fraudsters at all levels of sophistication saw an easy target to exploit.

For example, claims were filed in the names of known prisoners who weren’t eligible for unemployment checks. About 35,000 unemployment claims were paid out to California prison inmates, roughly 133 of whom are on death row.  Talcove alleges that the siphoned off stolen funds were used, in part, for child trafficking, drugs, and causing disruptions in our country. Kits were sold on the darkweb to teach people how to steal someone's identification and submit claims for unemployment benefits. The states didn’t have appropriate policies and procedures in place to catch the criminals. Innocent people had to wait for months to receive their unemployment benefits because the systems were overwhelmed with fictitious claims. headtopics.com

Blake Hall, CEO and founder of ID.ME, said"Fraud is being perpetrated by domestic and foreign actors."  Similar to Talcove, Hall is trying to highlight and put an end to this coordinated attack. Hall added"We are successfully disrupting attempted fraud from international organized crime rings, including Russia, China, Nigeria and Ghana, as well as U.S. street gangs." 

 Talcove says that this could all have been avoided. The tools needed to verify someone’s identity in real-time when a transaction occurs are now commoditized with many companies offering SaaS and API-based products. The failure of our government to utilize these solutions when it comes to programs that dispense tens of billions of dollars is actually symptomatic of a more central, underlying issue: in general, the government has not"gone digital,"and we are now witnessing the consequences, he claims. 

Talcove points to another serious consequence of the identity thefts. With so many criminals taking advantage of the system, he questions the validity of the actual unemployment numbers reported by the Department of Labor in their weekly and monthly jobs report. It's reasonable to believe that with the widespread fraud, the unemployment figures may have been artificially inflated by criminal activity and identity theft.

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This is not an issues regarding the power the US hold? Since the pandemic the FED has printed about +5 Trillion and injected into the Economy, countries like Nigeria had to fall on borrowing so just $400 B missing its not an issue. They should increase their credit debt POTUS SenateGOP this is sad $400B+ STOLEN & a Family that collecting Unemployment Governor’s are taking away their benefits($300) They forget that 98 % of the benefits paid out goes back into the system, LOT’S of Family Will be suffering NOT EVERYONE CAN WORK in Hospitality-Restaurants-Construction industry

Government programs are great, makes me really want to pay more taxes now The large scale cheaters of Payroll Protection Plan, where we have the legal reach, must be prosecuted to the full extent of the law. So remind me why we let these damn fools tax our productivity? They take our hard earned dollars and literally just piss them into the wind. What a shamefully incompetent group of morons our governing body has become.

I want you guys to list all the big companies that stole money and how the government just let them do it! this is terrible news

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