US Treasury's Bessent Says More Than $3.7 Trillion in Federal Payments Verified
JH Kim
Summary
- U.S. Treasury Secretary Scott Bessent said more than $3.7 trillion in federal payments has been verified through new anti-fraud safeguards.
- He said more than $3.7 trillion in payments had been verified through anti-fraud measures introduced into the federal payment process.
- He said coverage of the Do Not Pay system, which checks whether recipients are eligible for payments, expanded from 4% to 99% of all federal programs.
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U.S. Treasury Secretary Scott Bessent said more than $3.7 trillion in federal payments has been verified through new anti-fraud safeguards.
Cointelegraph reported on October 6 that Bessent said anti-fraud measures introduced into the federal payment process had verified more than $3.7 trillion in payments.
He added that coverage of the Do Not Pay system, which checks whether recipients are eligible for payments, expanded to 99% of all federal programs from 4% over the past year.
Bessent said the latest measures were part of a broader effort to strengthen safeguards designed to prevent fraud in the federal payment process.
JH Kim
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