Fighting Fraud With ID VerificationFrank McKenna of Point Predictive Offers Tips for States
States attempting to crack down on unemployment compensation fraud should consider implementing identity verification technology from multiple sources rather than relying on one vendor, says Frank McKenna, chief fraud strategist at Point Predictive, an AI technology company.
"I do believe that it [going for more than one vendor] is a great thing to do - especially in something as large as unemployment fraud because you need multiple solutions and multiple companies out there fighting the problem together," McKenna says.
In a video interview with Information Security Media Group, McKenna also discusses:
- How states can take a multilayered approach to fighting fraud;
- Challenges states will face implementing new technologies;
- Why states must leverage technologies from multiple vendors.
McKenna is chief fraud strategist at Point Predictive. He has advised more than 200 banks, lenders and finance companies worldwide to help them achieve reductions in fraud. He also provides fraud management tips through his daily blog, FrankonFraud.com.