In a March press conference, acting Social Security Commissioner Lee Dudek said his agency loses $100 million a year to direct deposit fraud. That figure represents about 0.00625% of all Social Security payments, according to Axios. The Trump administration has struggled to find other evidence of waste or fraud in the massive agency.

The world’s richest man misstated a statistic from the Social Security Administration to once again overstate fraud in the program.

Elon Musk's recent statements about Social Security fraud involving immigrants have sparked controversy. Experts and government reports challenge his claims, highlighting the inaccuracies and misconceptions surrounding the system.