Identity theft has become commonplace in the digital world. Fraudsters have developed complex schemes that leverage high-quality personally identifiable information (PII) to file fraudulent unemployment insurance claims. The ID Theft FraudXTM solution is part of our proven suite of expert data analysis, management, and fraud prevention tools. Leveraging Machine Learning technology and data science, ID Theft FraudXTM is specifically designed to use data collected by Unemployment Insurance (UI) Agencies to help identify claims that are highly indicative of identity theft behavior – including larger-scale fraud schemes. ID Theft FraudXTM is designed to be agile so that it can quickly adapt to ever-evolving fraud schemes.   

  Initial and continued claims. Data gathered during the claims process is used by the FraudX algorithm to discern patterns indicative of organized fraud. Attributes typically used include mailing address, IP address, and bank account number.

  Adjudication/Investigations. Agents can use the claimant’s score on the ID Theft report as an indicator of the likelihood that the identity is stolen. Agents can also drill into the data to look for patterns and expand leads.

  Efficient use of staff is maximized as cases most likely to be fraud will consistently have the highest risk scores.

  For collections, it lowers the amount of outstanding balances.

  For Adjudication it can be used to resolve cases where ERs respond to wage and separation, also a reduced workload

The attributes used by the algorithm, as well as the relative weights given to individual attributes, can be adjusted based on individual state characteristics as well as the accuracy of results returned as the report is run.

  Ease of Use – staff are given ranked leads and a multitude of data points that allow them to clear most of the investigation within the FraudX

The attributes used by the algorithm, as well as the relative weights given to individual attributes, can be adjusted based on individual state characteristics as well as the accuracy of results returned as the report is run.

  With Case management, most of the investigatory work can be done within the fraudX. The product provides investigators with the ability to drill into the data to look for patterns and expand leads

The attributes used by the algorithm, as well as the relative weights given to individual attributes, can be adjusted based on individual state characteristics as well as the accuracy of results returned as the report is run.