October 21, 2021
Business

Unemployment frauds using identity theft to steal billions

Scammers are using phony job ads to steal an estimated $7 billion from US taxpayers in fraudulent unemployment benefits — including $800 million in New York State alone, according to a new security study. 

The scam works by duping would-be job seekers into applying for work, then stealing the crucial personal information they share and applying for unemployment in their names, according to data and analytics company LexisNexis Risk Solutions, which says cybercriminals have posted 18,000 fake job listings.

Popular job sites like LinkedIn or Indeed are common breeding grounds for the scheme, according to the summer study, Haywood Talcove, CEO of LexisNexis Risk Solutions, Government Group, told The Post.

“What always spikes fraud in government is a disaster, if you look at hurricanes, earthquakes or fires,” said Talcove. “Frauds come out…

Read full article here: nypost.com