Apr 10, 2026 · 184K views · 📍 U.S. Treasury, Washington, D.C.
Nick Shirley interviews Treasury Secretary Scott Bessent at the U.S. Treasury about government efforts to combat fraud in federal programs. Bessent discusses a new fraud task force, a whistleblower program, a 'do not pay' system, and estimates that $250-500 billion is lost annually to waste, fraud, and abuse.
Programs involved: Do Not Pay system, Treasury Whistleblower Program, Feeding Our Future, FinCEN (Financial Crimes Enforcement Network)
Figures below are claims made in the video, shown with the status stated there — this site does not verify them. Disclaimer
Money that leaves the Treasury building each year.
“over 6 trillion dollars essentially leave this building each and every single year”
Stated by Nick Shirley
Estimated annual federal money lost to waste, fraud, and abuse, roughly 10% of the federal budget.
“we think it could be a 250 to 500 billion dollars so roughly 10% of the total federal budget”
Stated by Scott Bessent
Amounts individual Minnesota daycares allegedly received fraudulently.
“in Minnesota you had these daycares a million dollars upwards of 3.6 million dollars”
Stated by Nick Shirley
Threshold below which fraudsters kept thefts because U.S. attorneys lacked resources to prosecute.
“if they keep their thievery below a million and a half, 3 million dollars”
Stated by Scott Bessent
Cash amount requiring declaration at airports under TSA/Homeland Security rules.
“if you had more than 10,000 dollars, you're supposed to declare it”
Stated by Scott Bessent · verifier note: Accurate quote, but this is a regulatory declaration threshold, not an 'official_estimate'; status should be closer to a factual/regulatory context figure.
~ = name reconstructed from garbled auto-captions; verify before quoting.
All figures are as stated in the video — most are allegations, not adjudicated findings. Every dollar figure links to the timestamp where it is said. Extraction QA: The extraction is accurate and well-supported; all claims trace to explicit transcript quotes with correct attribution. Only a minor classification nitpick on the $10,000 declaration threshold being labeled an 'official_estimate' rather than a regulatory fact. Entities and transcription-issue notes (Bobby Kennedy, 'Zach', 'David') are handled appropriately.