Axios’ Felix Salmon reported this morning that “criminals may have stolen as much as half of the unemployment benefits the U.S. has been pumping out over the past year, with the bulk likely ending up in the hands of foreign crime syndicates”:

Good job, everyone:

But that 50% number does seem high:

Because if this is true, wow:

But it might not be true at all, as Axios’ Felix Salmon explained on Twitter as the “data comes from security companies with skin in the game” and who are trying to sell ant-fraud products to the government:

LOL he’s debunking his own story?

Salmon points out that even lower estimates of the amount of fraud is bad:

More here:

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Tags: Axios

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