How much money does the federal government lose to fraud annually?

According to the Government Accountability Agency, the federal government loses between $233 billion and $521 billion annually to fraud. This staggering amount represents a significant concern regarding the management of taxpayer money and governmental financial accountability. Andy McCarthy, a former federal prosecutor, suggests that instead of pursuing legal action to recover these funds, a more effective approach might be for citizens to elect representatives who would exercise greater fiscal responsibility and prevent such massive fraud in the first place.