Teradata: Targeting Tax Fraud With Advanced Analytics
Governments have to work hard to keep tax fraud from taking a significant bite from their revenues. In 2013, the IRS successfully foiled attempts, which were based on stolen identities, to cheat the federal government out of $24.2 billion in tax refunds. However, that same year the IRS paid out $5.8 billion on claims it only later identified as fraud.
States also lose money when fraudsters use stolen Social Security numbers, W-2 forms and other personal information to file false refund
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