According to a CNBC study, millions of Americans received unemployment benefits to survive the crisis, and fraudsters have developed a new way to steal cash directly from the recipient’s account.
When her single mother’s account was emptied, she had to crack and open her child’s piggy bank to survive. Another victim was suffocated when he told CNBC how to leave the grocery store empty-handed. The musician said he had to live in his car for a few weeks after his money was stolen.
At the heart of the problem, experts say, is the technology behind most debit cards used to distribute unemployment insurance in certain states. Unlike standard consumer debit cards, government-provided cards often don’t have chips and instead use older magnetic stripe technology, making them easier for hackers to break in.
Vanessa Rivera (left), Azuri Moon (center) and Candice Coule (right) all say that unemployment insurance has been stolen from their…