Federal fraud is double previous estimates, LexisNexis Risk Solutions CEO says

The federal government is hemorrhaging around $1 trillion per year due to fraud, Haywood Talcove, CEO of LexisNexis Special Services & LexisNexis Risk Solutions Government, said while testifying at a congressional hearing last week. 

The eyewatering figure dwarfs the Government Accountability Office's numbers.

The GAO reports that the nation's "federal government loses between $233 billion and $521 billion annually to fraud, according to GAO’s government-wide estimates based on...