Security News > 2020 > May > With millions upon millions out of work in the US, here come the scammers claiming victims' unemployment money using stolen info

With millions upon millions out of work in the US, here come the scammers claiming victims' unemployment money using stolen info
2020-05-19 01:26

With US unemployment threatening to reach its highest level since the Great Depression, hackers around the globe are using stolen personal information to file fraudulent benefits claims and steal millions of dollars destined for jobless Americans.

The Secret Service confirmed to The Register it has received reports of criminal gangs outside the States obtaining personal records and login credentials harvested from other hacked or leaky databases, and using that info to make unemployment claims on behalf of Americans, then pocketing the payouts via money mules.

"The Secret Service and our law enforcement partners will continue to work with the financial institutions and the state unemployment offices to pursue investigative leads associated with state unemployment identity theft," the agency said.

The fraudster would have to hope their victim was eligible for unemployment payments to claim any money, and the US's unemployment rate was less than four per cent pre-pandemic.

With tens of millions of adults suddenly out of work - and perhaps soon as many as one in four jobless - and looking to file for unemployment benefits, lists of stolen credentials and personal info that previously may have had little to no matches could turn out to be far more lucrative for the bad guys.


News URL

https://go.theregister.co.uk/feed/www.theregister.co.uk/2020/05/19/secret_service_scammers_unemployment/