A well-organized Nigerian crime ring is exploiting the COVID-19 crisis by committing large-scale fraud against multiple state unemployment insurance programs, with potential losses in the hundreds of millions of dollars, according to a new alert issued by the U.S. Secret Service. A memo seen by KrebsOnSecurity that the Secret Service sent to field offices around the United States this week says the ring has been filing unemployment claims in different states using Social Security numbers and other personally identifiable information (PII) belonging to identity theft victims, and that “a substantial amount of the fraudulent benefits submitted have used PII from first responders, government personnel and school employees.” …

Read MoreU.S. Secret Service: “Massive Fraud” Against State Unemployment Insurance Programs