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Fraudulent Claims Balloon by 400% in Legal Sector Over Two-Year Span; Sparks Demand for Enhanced Security Solutions

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 frau...

Business Wire

CAMG Verify confirms client identities to help mitigate fraudulent claims

LOS ANGELES: 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.

Fonte: Business Wire

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