A government task force led by Vice President JD Vance announced on Tuesday that it will remove 760,000 allegedly improper enrollments from the Affordable Care Act’s marketplaces. The move is the latest in the administration’s efforts to pare back health coverage in the name of rooting out fraud and abuse. But given the administration’s track record, there are reasons to view this announcement with a heavy dose of skepticism. And the consequences of erroneous disenrollments can prove devastating.
The White House Task Force to Eliminate Fraud is leading this extraordinarily large purge on the grounds that many of the enrollees do not exist or fail to meet eligibility requirements. The Centers for Medicare & Medicaid Services said hundreds of brokers and agents, who receive commissions per enrollee, have signed people up for marketplace plans without checking their eligibility. A…
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.