U.S. Commerce Secretary Howard Lutnick, with a net worth of $1.5 billion, has sparked controversy with his comments on Social Security during an appearance on the 'All-In' podcast. Lutnick suggested that his 94-year-old mother-in-law would not mind missing a monthly Social Security check, proposing that halting payments could be a method to identify fraud, as only 'fraudsters' would complain about delays. He argued that seniors trust the government and would not be the ones to scream, yell, and complain. Lutnick's statements have drawn sharp criticism. Representative Mark Takano accused the administration of real fraud in policies that threaten the financial stability of 70 million Americans who rely on Social Security. A Bankrate survey indicated that 77% of current retirees depend on these checks for necessary expenses, while only 15% are not reliant on them. MSNBC host Michael Steele labeled Lutnick an 'insensitive lug' for his remarks, emphasizing the importance of timely payments to seniors. On the same day, Leland Dudek, the temporary director of the Social Security Administration, warned that a court blocking the Department of Government Efficiency's access to sensitive databases could lead to a shutdown of the agency, potentially halting payments. Lutnick's comments followed his unsuccessful push for Americans to invest in Tesla stock, led by Elon Musk, which saw a 1.7% drop the morning after his endorsement. In a related development, digital financial fraud in Italy has surged, with over half a billion euros stolen from Italians in the last three years. The Federazione Autonoma Bancari Italiani (Fabi) reported a 30% rise in digital fraud over the past year, totaling 559.4 million euros in losses from 2022 to 2024. In India, from April to January, approximately 21 lakh cases of digital fraud were reported, resulting in losses amounting to 12 thousand crore rupees.
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9AM গত এপ্রিল থেকে সাম্প্রতিক জানুয়ারি পর্যন্ত সময়সীমায় প্রায় ২১ লক্ষ ডিজিটাল প্রতারণার ঘটনা ঘটেছে #DigitalFrauds #CyberFraud #FinanceMinistry #Drishtibhongi https://t.co/bHNKqgBpw5
🚨LUTNICK: "A fraudster always makes the loudest noise screaming, yelling, and complaining. Anybody who has been in the payments systems know that the easiest way to find a fraudster is to stop the payments and listen. Because whoever screams is the one that's stealing." https://t.co/I759BeJMJH