Fraudulent Claims Balloon by 400% in Legal Sector Over Two-Year Span; Sparks Demand for Enhanced Security Solutions
13 Mayo 2024 - 4:32PM
Business Wire
CAMG Verify confirms client identities to help
mitigate fraudulent claims
In the wake of a concerning surge in fraudulent claims within
class action and mass torts cases, the legal industry is witnessing
a pressing need for fortified defenses against identity theft and
fraudulent activities, namely with digital claim disbursements.
With the integrity of legal proceedings at stake, law firms are
seeking innovative solutions like CAMG Verify from Consumer
Attorney Marketing Group (CAMG) to safeguard sensitive client
information and protect against malicious actors.
According to the “2024 Digital Payments in Class Actions and
Mass Torts” report by Western Alliance Bank, the number of
fraudulent claims increased by 400% to over 80 million in 2023 from
just under 2 million in 2022. When looking at fraudulent claims
during a two-year period (2021 to 2023), that number ballooned to a
19,000% increase. Most fraudulent claims are the result of
duplicate payment destinations such as using the same mailing
address and/or bank routing numbers for multiple claims.
The escalation of fraudulent claims poses significant challenges
for law firms tasked with managing vast amounts of data and
sensitive client information. Fraudulent activities not only
undermine the legitimacy of class action and mass torts cases but
also erode trust in the legal system, impacting both clients and
practitioners alike.
To address this pressing issue, pioneering technology companies
are stepping up to provide comprehensive solutions tailored to the
unique security needs of law firms and their agencies. CAMG, the
industry’s leading full-service marketing agency dedicated to
providing legal professionals with the tools and resources they
need to succeed, is among those companies using this technology
with CAMG Verify, a cutting-edge identity theft protection platform
designed specifically for legal professionals.
“The need for identity verification in the legal industry has
never been more critical than it is now,” said Steve Nober, CEO and
founding partner of CAMG. “CAMG Verify provides law firms with a
user-friendly platform and does not require any setup fees,
contracts, or minimums, making it accessible to law firms of all
sizes. CAMG Verify uses cutting-edge technology – including
computer vision, artificial intelligence, and biometrics – to
confirm the identity of new clients using government-issued
identification documents.”
Utilizing advanced encryption protocols and state-of-the-art
authentication measures, CAMG Verify safeguards sensitive client
data from unauthorized access and malicious exploitation. Moreover,
its real-time monitoring capabilities enable early detection of
suspicious activities, empowering law firms to take swift and
decisive action to mitigate potential threats.
CAMG has partnered with Dentity, the leading consumer-focused
digital identity company, to create a program unique to the legal
community. Dentity has been providing verification services in
leading industries such as auto lending, digital commerce,
financial services, and age-verification among others.
"We recognize the critical importance of maintaining the
integrity and security of legal data, especially in the face of
rising fraudulent activities," said Jeffrey Schwartz, the founder
and CEO of Dentity. "With our technology, we aim to provide law
firms and agencies with the tools they need to safeguard their
clients' information and uphold the highest standards of
professionalism and reliability."
As the legal landscape continues to evolve, the demand for
robust security solutions is more pressing than ever. With CAMG
Verify, law firms can proactively protect against identity theft
and fraudulent claims, bolstering confidence in the reliability and
truthfulness of digital claim disbursements in class action and
mass torts cases.
For more information or to request a demo of CAMG Verify, visit
https://www.camginc.com/verify/ or call 800-600-2264.
About Consumer Attorney Marketing
Group
Consumer Attorney Marketing Group (CAMG) is a leading,
full-service marketing agency dedicated to providing legal
professionals with the tools and resources they need to succeed.
CAMG offers a range of customized marketing solutions that are
tailored to the specific needs of its clients, including website
design and development; search engine optimization (SEO);
advertising (television, radio, infomercials, digital, out-of-home
and print); social media marketing; content marketing; video
production; public relations; call center and intake operations;
contract services; medical record review and retrieval; and data
publishing.
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version on businesswire.com: https://www.businesswire.com/news/home/20240513860121/en/
Media Contact: Scott Sheff Consumer Attorney Public
Relations P: 310-467-4772 E: scotts@camginc.com