OMB: Fraud losses 'in the hundreds of billions' annually
The Office of Management and Budget estimates annual fraud losses at "in the hundreds of billions," after the Biden administration had questioned the government's lone estimate.
The Office of Management and Budget under the Trump administration says fraud costs taxpayers "in the hundreds of billions" each year. This statement follows the Biden administration's earlier characterization of the government's only estimate of annual fraud losses as "not plausible."