The statistics are frightening.
- The Federal government loses an estimated $300 billion per year to fraud, according to The Atlantic
- In fiscal year 2013 alone, Medicaid paid an estimated $14.4 billion to people who should not have received the payments
On November 19, my colleague, Marshall Presser, Field Chief Technology Officer at Pivotal, spoke at the MeriTalk Stealing from Uncle Sam event – a forum on fraud, waste, and abuse in Federal government in Washington, D.C. At that forum, government and industry panels discussed best practices and challenges in combating fraud. The discussion primarily focused on scams that target Medicare, Medicaid, and tax returns.
Marshall also presented at the EMC Federal summit in late October, and here are my thoughts from his excellent presentation:
There is a huge opportunity for agencies to be proactive in preventing fraud, waste, and abuse. For example, once a crook walks away with Medicaid money they aren’t supposed to receive, reclaiming the funds is very difficult, and costs to the government are extremely high. So, the best strategy is to prevent fraudsters from achieving their objectives and getting away with the money in the first place – whether it’s through identity verification, adaptive authentication, or enterprise content management solutions.
That said, the ability to detect fraud in progress is also critical to effective and efficient operations. Real-time analytics of many structured and unstructured Big Data sources is necessary in order to detect fraud quickly and efficiently. EMC’s fraud detection solutions provide 24/7 monitoring and detection, real-time alerts and reporting, forensics and countermeasures, and site blocking and shutdown. For example, EMC’s Anti-Fraud Command Center (AFCC) has shut down more than 500,000 cyber attacks in 185 countries, and has worked with more than 13,000 hosting entities.
Choosing the right technologies is vital for preventing fraud in any scenario, including identity verification and authentication technologies. EMC identity verification, for example, provides strong authentication and fraud prevention services that validate user identities in real time – reducing the risk of identity impersonation. In addition to reducing operational costs and fraud losses, this solution confirms identities within seconds – making for a fast and efficient strategy to combat fraudsters.
To learn more about how your agency can combat fraud, waste, and abuse, check out our white paper on the topic.