Fergie's Tech Blog

Identity Thieves Drain Unemployment Benefit Funds

Clipped from /.

Posted by Zonk on Friday June 24, @11:15AM
from the thanks-jerks dept.
Makarand writes "According to a News.com.com article, the defrauding of state government unemployment benefit programs is the most underpublicized identity theft crime and the states are not doing much about it. Identity thieves are using stolen social security numbers to file false unemployment claims and collecting benefits because the states have no systems in place to deter fraud. In fact, it is easier to convert stolen identity data into money by filing false unemployment claims than going after the credit card companies." From the article: "File a false unemployment claim and you can receive $400 per week for 26 weeks. Do it for 100 Social Security numbers and you've made a quick $1.04 million. It's tough to make crime pay much better than that."

posted by Fergie @ 6/24/2005 09:04:00 AM