A recently-released staff report prepared for the House Oversight and Government Reform Committee revealed that nearly 17,000 efficiency and process improvement recommendations made by agency Inspectors General remain pending as of 2012 and in combination could have saved more than $67 billion in wasteful government spending.
At the same time, the 2013 Identity Fraud Report released in February 2013 by Javelin Strategy & Research indicates that in 2012, identity fraud incidents increased by more than one million victims and fraudsters stole more than $21 billion, the highest amount since 2009.
Fraudsters know where process inefficiencies lie and government agencies can no longer delay the implementation of much needed system improvements. There are several service providers and integrators in the public sector that offer options and tools to choose from. Specifically, identity management tools exist that can authenticate a person’s identity online and in real-time, verify an address, validate one’s income and assets, and provide a full view of a constituent so funds go to those who need them most and stay out of the hands of fraudsters or those who are otherwise not eligible.
There is a better way to validate and authenticate individuals or businesses as part of a constituent review processes and time is of the essence. By simply incorporating third-party data and analytics into established infrastructure, agencies can immediately gain improved insight for efficient decision making.
Experian recently sponsored the FCW Executive Briefing on Detecting and Preventing Wasteful and Improper Payments. Click here to view the keynote presentation or stay tuned as I share more on this pressing issue.