Unemployment Benefits Fraud Could Top $200 Billion

ID.me CEO tells the Identity Theft Resource Center on the monthly “The Fraudian Slip” podcast that unemployment benefits fraud could top $200 billion

ID.me CEO tells the Identity Theft Resource Center on the monthly “The Fraudian Slip” podcast that unemployment benefits fraud could top $200 billion

Today, the Identity Theft Resource Center® (ITRC), a nationally recognized nonprofit organization established to support victims of identity crime, released a new episode of The Fraudian Slip where ID.me Founder and CEO Blake Hall says he believes unemployment benefits fraud could top $200 billion (14:45 mark in the podcast). ID.me provides identity verification services to a majority of states in the wake of the unprecedented level of identity-related unemployment benefits fraud.

Hall also tells the ITRC that over 50 percent of the claims being paid on are fraudulent based on screened claims (12:45 mark in the podcast), that individuals are applying for benefits with their own identity in multiple states (13:25 mark in the podcast), and that he sees eligibility fraud at 30 percent (14:10 mark in the podcast).

Listen to the full podcast

On the latest episode of the ITRC’s The Fraudian Slip, Hall also talks about traditional ways to verify identities and how they failed in 2020, state of the Art in I.D. verification, and what is next for I.D. verification in the age of privacy. ITRC CEO Eva Velasquez discusses what happened in 2020 with identity-related fraud, what individuals can do to protect themselves against identity-related fraud, and the resources available to help consumers protect themselves from identity-related fraud.

The Fraudian Slip is posted each month and focuses on identity compromises, crimes, and fraud that impact people and businesses. The ITRC produces a weekly podcast, The Weekly Breach Breakdown, that focuses on the most recent events and trends related to data security and privacy.

Members of the ITRC’s executive team are always available to discuss any of the topics covered on the podcasts with the media, including unemployment benefits fraud.

About the Identity Theft Resource Center 

Founded in 1999, the Identity Theft Resource Center® (ITRC) is a nonprofit organization established to empower and guide consumers, victims, business and government to minimize risk and mitigate the impact of identity compromise and crime. Through public and private support, the ITRC provides no-cost victim assistance and consumer education through its website live-chat idtheftcenter.org, toll-free phone number 888.400.5530, and ID Theft Help app. The ITRC also equips consumers and businesses with information about recent data breaches through its data breach tracking tool, notified.  

Media Contact

Identity Theft Resource Center
Alex Achten
Earned & Owned Media Specialist
888.400.5530 Ext. 3611
media@idtheftcenter.org

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