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A Colorado resident was charged with trying to steal hundreds of thousands of taxpayer dollars by billing the state’s Medicaid program for transporting a patient to doctor’s appointments — rides that would have taken place after that person had already died.
A new report by the House Energy and Commerce Committee revealed that taxpayer-funded healthcare programs, specifically Medicare and Medicaid, are rife with vulnerabilities that allow them to be exploited on the local, state and federal levels.
“Medicare and Medicaid fraud occurs nationwide and costs American taxpayers billions of dollars a year. Fraud is prevalent in all sectors of health care and is especially egregious in taxpayer-funded health care programs that are intended to serve vulnerable populations, including the elderly, disabled, children, and pregnant women,” the report…
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.