Pondera Solutions Launches Fraud Detection System for State Revenue Agencies

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Google Enterprise Partner adapts successful product line to help save taxpayers millions by preventing fraudulent and errant tax refunds.

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FDaaS for Revenue Agencies analyzes tax filers, employers, and individual returns to identify incidents of potential fraud, waste, and abuse, in addition to trends, patterns and clusters of suspicious activity.

Pondera Solutions, a Google Enterprise Partner, announced today the launch of a new fraud detection product line designed to help Revenue Agencies prevent fraudulent, abusive, and wasteful payouts while helping governments to accurately assess required tax collection figures. The newly introduced Fraud Detection as a Service (FDaaS®) for Revenue Agencies addresses the gap in tax obligations owed to the states and those voluntarily paid. A relevant financial issue facing State Governments, annual tax gaps range from less than $100 million in small states to more than $6.5 billion dollars in large states.

“Our success catching fraud with state Unemployment Insurance tax systems in various states has provided a natural springboard to adapt our solution to service Tax and Revenue agencies. We found that our ability to identify fictitious businesses and suspicious individual filers translates effectively to detect W2 fraud, unreported earnings, identity theft and other issues common in tax fraud,” said Jon Coss, Pondera Solutions Chief Executive Officer.

FDaaS for Revenue Agencies analyzes tax filers, employers, and individual returns to identify incidents of potential fraud, waste, and abuse, in addition to trends, patterns and clusters of suspicious activity. The results are returned to the agency for audits and collection.

Pondera's FDaaS, currently utilized by government departments and agencies in several states, is a trademarked Google-powered cloud-based analytics solution that analyzes claims and program participants, quickly sifting through massive data sets to identify and alert agencies to problems that require follow up investigation. FDaaS is seen as a super investigator that combines technical intelligence with agency data to quickly identify potential fraud. Because FDaaS uses machine learning and geospatial technology, it also continues to learn over time, uncovering new and emerging methods of fraud.

“Many states already have existing fraud detection efforts, so FDaaS for Revenue Agencies is designed to complement existing state detection efforts by analyzing huge data sets in compressed time frames combining advanced analytics with massive computing power. This allows states to collect the money required to operate vital state services,” said Coss.

In addition to servicing Revenue Agencies, FDaaS is also available for Medicaid, Unemployment Insurance, Public Welfare Programs, and Disabled Parking Placard programs.

About Pondera Solutions:
Pondera Solutions, a product and services firm focused on implementing Google solutions in government agencies, delivers a comprehensive Fraud Detection as a Service (FDaaS) solution based on Google’s state-of-the-art tools. FDaaS analyzes incoming claims using Google’s predictive modeling, data mining and matching, geospatial and search engine technologies to investigate and help prevent potential fraud before it occurs.

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Ron Demeter
Vectis Strategies
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