Imagine billions in U.S. tax dollars vanishing overseas every year. A new 60 Minutes investigation reveals how shell companies and bogus invoices enable fraudsters to siphon off at least 8.7 billion dollars in 2022 alone. “International trade is an open window for fraud,” warns Michael Hartman, former IRS investigator. Wholesalers mislabel shipments—garlic one day, electronics the next—and no one tracks the real value. Once the money leaves Washington, “we have no idea what happens to it,” says John Sopko, the special inspector general for Afghanistan reconstruction. Frauds also infect online marketplaces, where phony customs data lets criminals dodge tariffs. The result? Honest taxpayers foot the bill. 60 Minutes’ Bill Whitaker warns this is not a victimless crime – it undermines government services and erodes trust in institutions. Closing these loopholes, experts agree, demands real-time data sharing and tougher enforcement. Because when it comes to protecting your tax dollars, transparency isn’t optional—it’s essential.
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