Equifax has launched Unemployment Claims Fraud Watch, a new solution that leverages the market-leading Unemployment Cost Management services of Equifax Workforce Solutions along with the alerting capabilities of the company's award-winning identity theft protection services. Employers can add Unemployment Claims Fraud Watch as a benefit to help employees combat identity theft and have greater peace of mind, while helping reduce the administrative burden on their HR departments.

A recent U.S. Government Accountability Office (GAO) report estimated that more than $60 billion may have been paid out in fraudulent unemployment insurance benefits during the pandemic. With the new Unemployment Claims Fraud Watch solution, an employee can receive a direct notification when a claim is submitted in their name, providing an early warning of potential fraud.

"By adding Unemployment Claims Fraud Watch to their benefits package, employers can help their employees take greater control over protecting their identities," said Ben Erdel, General Manager of Identity Theft Protection Services, Equifax Workforce Solutions. "Employees can feel more supported, and HR teams can be more confident since our identity theft protection and restoration experts are there to assist their employees if they are the victims of unemployment claims fraud."

Features of Unemployment Claims Fraud Watch include proactive monitoring for claims filed using employees' identities; direct notifications when a claim is submitted in their name; and support from identity experts to help employees report and resolve the fraud. In addition, employees enrolled in identity theft protection services receive ongoing support to help keep thieves from opening new, fraudulent accounts both now and in the future, helping mitigate the chance of repeat fraud.

Equifax is one of the nation's leading choices for unemployment management processes, with 65 years of experience and a dedicated team of approximately 500 professionals focused on unemployment insurance. Equifax is an award-winning provider of identity theft protection, offering innovative solutions to help defend against identity fraud, reduce stress, and provide greater peace of mind both directly to individuals and through employee benefits programs.

For more information on Unemployment Claims Fraud Watch, please click here.