NEW YORK (AP) — In anticipation of new digitization trends, Epiq, a global technology-enabled leader in the legal industry and corporations, has announced additional technology enhancements. These advancements aim to protect the integrity of class action claims by ensuring that valid claims are honored and fraudulent claims are stopped.
Epiq’s proven anti-fraud process, EpiqShield™, combines technologies, people, and protocols to safeguard settlements from evolving threats. “Bad actors have increased their digital assaults on the class action claims process in recent years,” said Loree Kovach, Epiq’s Senior Vice President of Strategy and Client Technology. Kovach works with clients to assess complex matters and develop solutions for critical administrative tasks. She emphasizes the importance of preventing the filing of illegitimate claims and protecting settlements from fraud.
To combat fraudulent claims, EpiqShield™ is a strategically curated approach that utilizes real-time solutions and pre-payment data analytics. This combination of technology and expertise is customized to suit the unique aspects of each case. Epiq’s process continually monitors, detects, and blocks suspicious activity while expediting the processing and payment of valid claims.
With over 30 years of experience administrating thousands of settlements, Epiq has unmatched expertise in settlement administration complexities. The company’s subject matter experts are well aware of the increasing problem of bot-submitted claims and have implemented secure technologies and tested workflows to identify and eliminate fraudulent claims.
Scammers are evolving their tactics, making it essential to monitor trends in this space. “As technology continues to evolve, more sophisticated ways to perpetuate fraud will inevitably surface,” said Kovach. Epiq emphasizes the importance of having a knowledgeable partner with the right technology to catch and prevent bot-based fraud, minimize the impact on the class and settlement administration, and ensure that payments are only issued to legitimate claimants.
EpiqShield™ leverages extensive technology and information security resources to detect and prevent fraud attempts. Its digital payment solutions utilize end-to-end encryption and help detect and screen out large-scale bot-filing attempts. In addition, Epiq’s physical check processes incorporate various anti-fraud measures, such as special check stock, positive pay, and Office of Foreign Assets Control (OFAC) review.
Epiq, a global technology-enabled services leader, specializes in streamlining the administration of legal and business operations. Their subject-matter experts and technologies create efficiency and confidence for their clients worldwide.
For more information about Epiq, visit their website at www.epiqglobal.com.
Press Contact:
Carrie Trent
Epiq, Director of Communications and Public Relations
[email protected]