Experian’s Precise ID solution is helping prevent and detect improper and fraudulent unemployment insurance payments
The IDV capability leverages Experian’s Precise ID® to provide a centralized identity verification and proofing solution. Precise ID combines identity analytics with advanced fraud risk models to distinguish various types of fraud, which can help state agencies maximize time and resources. When state agencies submit claims, the IDV solution will return ID theft scoring and associated cause codes, enabling them to assess whether a claim may be fraudulent.
The Integrity Data Hub (IDH) is a robust, multi-state data system that contains a continuously expanding set of sources to provide advanced cross-matching and analytic capabilities to states. It’s designed to be easily implemented by any state Unemployment Insurance agency, regardless of claim volume, technology or access to internal resources. The IDH was designed and built using the latest National Institute of Standards and Technology IT security standards, including the use of asymmetric encryption and other techniques to ensure the security of sensitive data.
In the wake of unprecedented unemployment fraud since the start of COVID-19, Experian®, the world’s leading global information services company, announced it was selected as the exclusive partner for identity and fraud verification for the Unemployment Insurance (UI) Integrity Center’s centralized Identity Verification (IDV) capability. This is available to state agencies at no cost through UI Integrity Center, operated by the National Association of State Workforce Agencies (NASWA) in partnership with and funded by the U.S. Department of Labor.
The Identity Verification capability is now available at no cost to all states through the Center’s Integrity Data Hub. For more information on Experian’s Precise ID solution, please visit https://www.experian.com/decision-analytics/precise-id.
Source: Experian Press Release