It's the same mistake misconceiving of fraud rather than risk: The issue isn't its existance - of course there will be some somewhere - but the degree. It's like saying it rains everywhere - which is true - so everywhere is the same in terms of drought, floods, etc., and we shouldn't build dikes, storm sewers, water storage, etc. It's nonsensical.

The argument also fails logically: If there is all this fraud, why would we be seeking more? Someone just told me the US should invade Mexico because there has always been warfare. Same bizarre argument.

Let's minimize fraud and warfare, not increase them dramatically (because there has been fraud and warfare before).