There isn’t anything like the amount of it being promised, and gutting the auditing and staffing for programs is the last thing you’d do if that’s your concern.
For example, Musk lied about social security but the records he mentioned were reported by the SSA IG years before. They concluded there wasn’t much fraud because over 98% of the old records weren’t receiving money (and hadn’t made contributions in over 50 years) and it was noted that cleaning them up would cost significantly more than it could possibly save.
Oh, I’m certain there’s fraud. Now, is there a higher percentage of fraud in what he is cutting—or in what he is leaving behind? That is an open question.
They’re very enthusiastic about rooting out. The fraud is still missing, however.