Feature Sheet

COVID-19-Related Unemployment Benefit Fraud Detection

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The COVID-19 pandemic has caused an economic downturn and compelled millions of Americans to file for unemployment benefits. With claims systems strained by historic and accelerated volumes of applications, criminals are taking advantage through fraudulent unemployment benefit claims.

Combat fraudulent benefit payments with Verafin’s COVID-19-Related Unemployment Benefit Fraud Detection solution, including advanced detection for excessive payments diverted to a single account, new accounts opened to facilitate fraud, and mismatched payee-customer account information.

Tagged as...

  •   BSA/AML Compliance; Case Management
  •   COVID-19
  •   Fraud
  •   Money Laundering
  •   Money Mules