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Student Loan Fraud Up 82% Under Obama

Posted By Daniel Greenfield On June 8, 2013 @ 11:20 pm In The Point | 8 Comments

There are a lot of things that seem to be rising sharply under Obama. And they usually involve words like “Fraud” and “Waste” and rarely words like “Economic Improvement” and “Job Growth.”

I wonder if these two things aren’t perhaps connected.

The results have been devastating to taxpayers: an 82 percent increase in student loan fraud since 2009 and at least $187 million in losses. Investigators say the actual losses could be as high as $874 million.

A new assessment by the department’s internal watchdog, the inspector general, found officials were not using basic digital investigative tools like checking Internet Protocol (IP) addresses or verifying email addresses, allowing easy avenues for defrauding federally backed student loans.

The inspector general first flagged the concerns about fraud in January and this month renewed the concerns with a subsequent mention in its semiannual report to Congress.

Obama Inc. never even got around to instituting basic credit card security measures for its campaign contributions. Somehow I don’t think it’s going to run to shut off the gravy train for its base. Criminals.

 


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