The new group provides fraud, benefit eligibility verification, identity authentication, data breach response, investigation services, and other key solutions to federal, state and local government agencies in the US TransUnions solutions help both private and government sector organizations manage risk.
One specific focus area for TransUnions new vertical is uncovering tax fraud. According to the Internal Revenue Service, federal tax-refund fraud is expected to hit USD 21 billion by 2016, up from just USD 6.5 billion two years ago. TransUnion data and solutions help enable government agencies to better identify and differentiate between citizens and fraudsters.
Criminals may use cyber-attacks or fraud schemes to assume an identity and pass basic knowledge-based authentication. By using a risk-based authentication approach, TransUnions ID Manager solution combines identity verification, device verification and identity authentication into a comprehensive platform enabling a solution that can help reduce identity-theft tax fraud while streamlining the tax refund process for the average citizen.
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