...extending job retention programs indefinitely, in the hope that the economic outlook will change at some point — is also riddled with risks, including fraud. An internal audit conducted by the French government has revealed that 700 out of 25,000 companies investigated were suspected of engaging in fraud. That’s the equivalent of one out of every 36. In Italy, the problem is likely to be far worse. By some estimates, as much as 10% of furlough pay in Europe is lost to fraud.