On Point Reports That A Recent State Deployment of UIdentify Has Blocked a Potential $715 million in UI Fraud Payments.
On Point Technology
On Point Technology Reports That A Recent State Deployment of OPTimum UIdentify Has Blocked a Potential $715 million in UI Fraudulent Payments.
OAKBROOK, ILLINOIS, UNITED STATES, May 10, 2021 /EINPresswire.com/ -- Today, On Point Technology announced that its newly launched UI Fraud prevention product OPTimum UIdentify has blocked the payment of 99,325 potentially fraudulent UI claims in its most recently deployed state. The majority of blocked claims have been for the Pandemic Unemployment Assistance (PUA) program. Using the maximum weekly benefit amount and the maximum weeks available in that state, the blockage could be as high as $715.1 million.State unemployment agencies have been under attack by sophisticated international and domestic organized fraud schemes. These attacks have challenged states’ ability to combat fraud and pay unemployment benefits to families that need timely delivery of payments. As recently reported by USA TODAY, the large-scale imposter fraud attacks began in May 2020 (when Washington state’s UI program was defrauded out of $600 million) and have since expanded to nearly every state in the nation. Fraudsters have used stolen personally identifiable data obtained from numerous data hacks from private businesses and public agencies to obtain the necessary information to steal workers personal information to file fraudulent UI claims. Personal identifiable data is readily available and for sale on the dark web for as little as $2.00.
Deployed in December 2020, OPTimum UIdentify is a product developed by On Point Technology, LLC of Oakbrook, Illinois, a leader in UI program integrity. UIdentify crossmatches the claim filers driver’s license or state-issued ID against the National Verification Service. Using a mobile device or desktop computer with a camera the process is quick and easy having minimal impact on legitimate claimants. Fraudsters rely on stolen data and do not have physical possession of the ID.
Pedro Rosa
On Point Technology
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