Washington State Auditor Releases First Audit on Unemployment Fraud
- The Office of the Washington State Auditor found that the Employment Security Department (ESD) did not have adequate internal controls to prevent the fraud.
- The “known and suspected” fraud loss, as of June 30, 2020, was about $600 million. This sum covers more than 122,000 known or suspected fraudulent claims in fiscal year 2020.
- Consequences of mistakes like these can have unintended results, like the funding of criminal enterprises.
- Verifying identity trust is fairly simple with a solution like Kount’s. On a technological level, having an identity trust platformcan make a huge difference. Identifiers like geo-location, real time linking, as well as machine learning, and AI can identity risky interactions and stop them in real time.
Behavior-as-a-Service Uses Digital Body Language to Fight Fraud, Increase Conversion
- Fraudsters tend to stand out because they simply aren’t acting right, this according to the CEO of the company, based on behavioral clues that the solution is capable of picking out.
- A customer that is moving confidently and purposefully through a journey behaves differently. They move through the data faster, they don’t tend to make a lot of errors when filling in their personal data, and their physical use of their technology is on the whole more confident.
- Businesses are always looking for proactive ways to protect digital interactions
- In this instance, businesses are looking at behavior. Behavioral biometrics are also in play digitally.
- Kount recommends an Identity Trust Global Network as a reliable solution to stop fraud while increasing conversions.
Burger King to Give Some Venmo Users $1 to Promote New Dollar Menu
- Burger King has launched a new promotion called the “$1 Your Way Menu” and in conjunction will put $1 in some Venmo users’ accounts through Dec. 28, the day the new menu takes effect, the company announced.
- With digital innovations and promotions comes the susceptibility to fraud. Businesses can limit their risk by utilizing a global network of fraud and risk signals, backed by advanced-AI and machine learning.