The Colorado Department of Labor and Employment has been flooded with fraudulent claims for unemployment insurance â more than 1.1 million claims have been flagged as possibly fraudulent since the start of 2020.Â
Bank employees and customers, like those in other industries, have been targeted by scammers who have used their identities to file false claims.Â
While many of these claims are now being caught by more sophisticated identification tools, many others result in great inconvenience for businesses and individuals and in millions of dollars in payments to scammers.Â
According to Jessica Smith, CDLE Division of Unemployment Insurance press secretary, scammers were successful in stealing $6,562,264 through fraudulent claims in 2020, but the department prevented more than $91 million in fraud losses.