Business
Conduent Introduces VeriSight Identity Validation and Bank Account Owner Verification Solutions to Combat Fraud and Strengthen Government Aid Programs
VeriSight can help federal and state agencies confirm the identities of program beneficiaries Solutions are designed to detect identity fraud at enrollment
About this update from Conduent Incorporated
[{"type":"text","content":"VeriSight can help federal and state agencies confirm the identities of program beneficiaries Solutions are designed to detect identity fraud at enrollment and, where applicable, bank account ownership before benefits are disbursed In addition to fraud prevention, VeriSight can help state and federal agencies identify fraud ring activity to aid in the investigation and prosecution of perpetrators and reclaim stolen funds FLORHAM PARK, N.J., Dec. 01, 2022 (GLOBE NEWSWIRE) -- Conduent Incorporated (Nasdaq: CNDT), a global technology-led business process solutions company, today introduced its VeriSight solutions to help federal and state government agencies combat benefits fraud and strengthen public aid programs nationwide. The VeriSight solutions – an expansion of Conduent’s current capabilities in government payments – provide robust identity verification and validate bank account ownership before transactions are completed and benefits are disbursed. VeriSight analysis tools also can assist state and federal agencies in identifying fraud ring activity to aid in investigating and prosecuting perpetrators and reclaiming stolen funds. Public programs that can benefit from Conduent’s VeriSight solutions include: Unemployment Insurance (UI)Temporary Assistance for Needy Families (TANF)Supplemental Nutrition Assistance Program (SNAP) / Electronic Benefits Transfer (EBT)Women, Infants and Children (WIC) EBTState Supplemental InsuranceChild SupportDepartment of Revenue programsOther constituent benefit programs Unemployment fraud alone is a multi-billion-dollar challenge nationwide, as was the case during the COVID-19 pandemic. A report from the U.S. Department of Labor’s Office of Inspector General found that at least $163 billion in pandemic unemployment benefits may have been paid improperly, with a significant portion attributable to fraud. Conduent’s VeriSight solutions are designed to be configurable, providing a range of services to meet agency needs, from investigations to ongoing fraud prevention. They can also help states quickly resolve claims of identity theft. The suite includes the following: Identity Verification: These solutions verify applicant identities, helping to catch fraud attempts before funds are disbursed. Fact-based authentication at the enrollment and eligibility stage can detect perpetrators using false or...