Minimize Friction for Legitimate Citizens. Stop Tax Fraud.
IDology is the leading provider of identity verification and fraud prevention for the tax industry. The IDology platform addresses the many needs associated with the tax environment:
- Delivering a positive experience and legitimate refunds with minimal friction
- Identifying as well as deterring fraudulent refunds
- Meeting compliance with regulatory guidelines
- All in an easy to deploy and manage solution
Without a doubt, tax returns are a prime target for criminals. Tax fraud totals in the billions of dollars annually and is expected to grow and continue to be a considerable challenge for federal and state governments, tax preparation service providers, and for our fellow citizens, in the years to come. Federal and state governments and tax preparation providers must constantly be on the offense in order to combat fraudulent claim attempts. With IDology’s robust and multi-layered fraud prevention platform, companies and government entities are able to successfully detect and stop fraudulent refunds and streamline legitimate refunds.
Due to countless data breaches as well as constantly evolving fraud schemes, fraudsters can now purchase “perfect identities” from places like the Dark Web. These perfect identities contain enough identity information for a fraudster to impersonate a citizen and attempt to file a tax return. Fraudsters will file early – and file often. Each successful tax return can potentially result in refunds in the thousands of dollars. However, as we fight tax fraud, it is extremely important to remember that legitimate citizens are also filing returns. And, they deserve a smooth, friction free experience as well as prompt access to their refunds.
IDology’s CEO, John Dancu, recently sat down to discuss how the major tax preparation companies have successfully deployed the IDology platform to stop fraudulent returns while delivering a positive experience to legitimate citizens. View this IDology Leadership Video below:
Fraud is Never Stagnant.
Fraud, in itself, is never stagnant. The landscape is constantly changing, so it is vital that federal and state governments as well as tax organizations are able to quickly and easily make adjustments to their program in order to allow the good in, and stop the fraud. One of the most distinctive elements of the IDology solution is its on-demand and completely customizable structure. Customers gain the flexibility to swiftly make configuration changes that are deployed automatically – without having to rely on internal IT resources or IDology’s customer service. This will enable you to drive more legitimate transactions and stay ahead of the fraud, while also streamlining these vital processes.
How? IDology works closely with each customer to evaluate risk based on many factors – for example, identity, activity, device and location based attributes. This real-time, risk-based approach combined with IDology’s collaborative fraud tools make it possible for customers to spot and stop fraud – while also minimizing friction for legitimate citizens.
Collaboration is Key.
Criminals undoubtedly target more than one company or organization at the same time. A key element of the IDology solution is our Collaborative Fraud Network. Through industry-wide collaboration tools built directly into the platform, customers are able to leverage, in real-time, the power of our network which has been proven to significantly lower fraud rates. IDology functions as a centralized “hub” for monitoring and stopping fraud. Given IDology’s depth of business in the tax market, we are able to identify fraudulent transactions across the entire industry. Customers benefit from the ability to evaluate and decision off of this potential fraudulent activity.