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California Selects Pondera Solutions FDaaS® as High-Tech Solution to Prevent Unemployment Insurance Fraud

The California Employment Development Department (EDD) has selected Google Enterprise Partner, Pondera Solutions‘ Fraud Detection as a Service (FDaaS®) to serve as a high-tech solution to prevent fraud and improper payments in California’s $6.2 billion Unemployment Insurance Program. EDD utilized a federal grant to implement FDaaS. The partnership will further enhance California EDD’s abilities to detect fraud early and save taxpayer dollars. First Data Government Solutions won a RFP by the State to implement FDaaS and provide project management, integration and subject matter expertise on unemployment and disability insurance.

“As a California company, we are thrilled that our home-state will use our fraud detection service to stop bad actors from defrauding the Golden State,” said Jon Coss, Pondera Solutions CEO. “We are committed to working with California EDD to protect these vital programs and enhance program integrity. We are glad to be part of a federal/state effort as California received a federal grant to employ FDaaS, the latest in technology and predictive analysis tools to identify new fraud trends and prevent benefit fraud.”

Pondera’s FDaaS is a trademarked Google-powered cloud-based analytics solution that analyzes claims and program participants, quickly sifting through massive data sets to identify and alert agencies to problems that require follow up investigation. FDaaS is seen as a super investigator that combines technical intelligence with department data to quickly identify potential fraud. Because FDaaS uses machine learning and geospatial technology, it also continues to learn over time, uncovering new and emerging methods of fraud.

Unemployment insurance fraud is a serious issue costing states tens of millions a year by individuals filing fraudulent claims and criminals establishing shell companies to file fraudulent claims against. According to the federal government’s internal reporting (https://paymentaccuracy.gov) more than $6.2 billion in combined unemployment insurance funds were improperly paid out in 2013.

Iowa Workforce Development (IWD) was the first state government department to implement FDaaS to prevent unemployment insurance fraud. The Pondera Solutions platform has provided IWD’s investigators with an additional tool to investigate potential fraud regarding business scams and benefit payments. Once a potential case is identified and investigated, a hearing is held to provide due process to the party prior to benefits ceasing for an individual or the closure of an employee account.

About Pondera Solutions:
Pondera Solutions combats fraud, waste and abuse in large government assistance programs, including Medicaid, Welfare and Unemployment Insurance. Pondera delivers a comprehensive Fraud Detection as a Service (FDaaS) solution based on Googles state-of-the-art tools. FDaaS® analyzes incoming claims using Googles predictive modeling, data mining and matching, geospatial and search engine technologies to investigate and help prevent potential fraud before it occurs.

 

Source: http://www.prweb.com/releases/2014/10/prweb12249931.htm

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