SP6 is pleased to announce the completion of a major initiative with a particular state government to significantly detect and reduce state unemployment insurance benefits (UIB) fraud.
Due to the recent pandemic and resulting economic impact, the United States saw a peak of initial unemployment claims at close to 7 million new claims in a single week in 2020. Since that peak, and into 2021, new unemployment claims have still approached almost one million – per week.
With this surge in claims has also been a well-publicized surge in fraud tied to these claims. Many states have seen hundreds of millions of dollars stolen from their unemployment insurance trust funds via fraudulent claims generated by stolen identities and other fraud behaviors.
SP6 teamed with fraud experts from Splunk to build a solution within Splunk’s core analytics engine to detect this fraud. SP6 also built a fraud scoring engine to better pinpoint actual fraud, in order to reduce alerts from the detection system that could be false-positives and negatively impact honest citizens from being approved for a genuine claim.
“For the sake of not tipping a hand to fraudsters, we won’t speak to who our customer was, nor the methods we employed to mitigate UIB fraud,” said Jim Barge, Partner at SP6. “What I can say is that this was one of the most impactful projects that SP6 has ever been involved in. We’re saving our state government customers tens of millions of dollars with their new fraud detection and scoring system. I could not be more proud of the results accomplished, and the collaboration between our Services team, Splunk’s fraud team, and the customer team.”
SP6 is a technology services firm specializing in next-generation Analytics solutions based upon the Splunk platform. The company has built one of North America’s largest and most accomplished Splunk Services team. Our Splunk Certified Consultants drive client success with initial Splunk deployments, environment upgrades/scaling, the building of dashboards/searches/reports, and performing Splunk health checks, across all major Splunk use cases (IT Ops, IT Security, and DevOps). SP6 also provides Splunk Managed Services for those organizations needing assistance with ongoing platform administration, assuring that customers can realize the value of the analytics platform.