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 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. 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.