Letters have been sent to hundreds of businesses with 30-day deadlines for evidence of legitimacy.
Vice President JD Vance is heading the administration’s anti-fraud task force, which recently sent letters to more than 400 businesses that have been awarded government contracts. The companies have 30 days to respond to the task force with proof of their legitimacy and physical addresses. The task force has reportedly identified over $6 billion in potentially fraudulent government contracts.
Vice President Vance’s spokesperson stated, “The Vice President’s task force will leave no stone unturned in the hunt for fraud. If fraudsters are robbing hardworking Americans of their tax dollars and services, we will find them.”
The Department of Justice has established an anti-fraud division and Assistant Attorney General for National Fraud Enforcement, Colin McDonald, was sworn in at the…
This remains the most prevalent form of financial crime globally. It targets the direct access points to your money: your cards and your bank accounts.
- Skimming: Criminals use small devices called “skimmers” placed over ATM or point-of-sale card slots to capture the data from your card’s magnetic strip.
- Card-Not-Present (CNP) Fraud: This occurs during online shopping where a physical card isn’t required. Thieves use stolen card numbers, expiry dates, and CVV codes to make unauthorized purchases.
- Account Takeover (ATO): A hacker gains access to your online banking credentials (often through malware or phishing) and changes the contact details or passwords, locking you out while they drain your funds.