Connect with us

Hi, what are you looking for?

Investing

Food Stamp Fraud

Chris Edwards

The Biden–GOP debt deal adjusted work requirements in the Supplemental Nutrition Assistance Program (SNAP) but did not cut the program’s spending. Cuts are needed because SNAP outlays have exploded from $63 billion in 2019 to an estimated $145 billion in 2023. Congress will have another chance at reform later this year when the program is reauthorized as part of the farm bill.

One chronic failing of SNAP is that billions of dollars are lost through fraud and abuse. Individuals, businesses, and organized gangs steal benefits. The switch from paper food stamps to electronic benefits transfer (EBT) cards two decades ago created new avenues for abuse.

My new article for National Review discusses 10 types of fraud and abuse in SNAP.

Card skimming has become a particularly severe problem in recent years. EBT numbers and PINs are a great target for theft because the cards do not have chips.

SNAP is difficult to police because it includes 250,000 retailers and 42 million recipients, who have changing income levels and other factors that affect eligibility and benefit levels. And because the federal government funds SNAP benefits, state administrators have little reason to minimize the fraud and abuse.

Advertisement

    You May Also Like

    Investing

    RevisingTheBankSecrecyAct_NorbertMichelAndJenniferSchulp_CMFAWP007   The post Revising the Bank Secrecy Act to Protect Privacy and Deter Criminals (CMFA Working Paper No.007) appeared first on Alt-M.

    Investing

    Recently, an investment advisor and Bitcoin proponent tweeted the claim that “[f]or most of human history” the “[s]eparation of money and state was the...

    Business

    Rollee enables worker’s to share their professional data, spread over one or more financial platforms. Ali Hamriti, CEO and Co-Founder of Rollee, is on...

    Business

    The energy crisis means that as the price of wholesale commercial energy hits an unprecedented high, businesses must pay notably more for their energy...

    Disclaimer: successfuldealnow.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 successfuldealnow.com | All Rights Reserved