Socure advocates for advanced biometric identity verification to combat rising ID fraud, especially in state pension programs. Its SocureGov platform secured FedRAMP”Moderate” authorization, allowing enhanced security for federal agencies. The firm suggests reforms in identity verification methods within government operations, including adopting performance metrics and innovative technologies. Socure’s efforts focus on improving security for retirees and preventing fraud effectively.
Socure emphasizes the rising threat of ID fraud and the importance of advanced biometric digital identity verification. Recent efforts include raising awareness about the risks associated with state government pension programs and promoting its Socure For Government (SocureGov) platform, which recently received a “Moderate” authorization from FedRAMP. This designation supports the secure cloud service adoption for federal agencies, enhancing security protocols for identity verification.
The SocureGov platform enables high auto-approval rates, allowing 99% for mainstream populations and up to 94% for hard-to-identify groups including Gen Z and millennials. Additionally, it streamlines processes by minimizing manual reviews and offering a fully automated document verification system, helping to identify only the 1% of the population who require additional verification.
In addressing pension fraud, Socure highlights its commitment to enhancing identity verification as a means to protect public programs for retired employees. Its reports indicate a concerning spike in elder fraud, with cases rising by 84% in 2022, leading to significant financial losses. The firm sees improved identification techniques as essential for safeguarding retirees against fraud, particularly concerning the verification of deceased beneficiaries.
The AI and machine learning employed by Socure track both traditional and non-traditional data, ensuring pension funds are disbursed only to eligible, living recipients. Their positions stress the necessity of adopting advanced security measures and cultivating a cyber-resilient culture to protect the financial interests of retirees.
Jordan Burris from Socure underscores the need for strategic reforms within the Department of Governmental Efficiency (DOGE) to combat identity fraud. He proposes five foundational pillars including:
1. Designating digital identity as critical infrastructure for integrated cybersecurity.
2. Developing a national strategy for digital identity standards.
3. Implementing performance metrics for accountability in identity verification services.
4. Establishing a task force to collaborate across sectors to prevent fraud.
5. Leveraging innovation, particularly AI, to secure identity verification systems against evolving threats.
Despite concerns from civil rights advocates on data privacy related to DOGE’s efforts, Burris maintains optimism about the potential for the current administration to lead globally in secure digital identity practices. He believes innovative policies can protect citizens while establishing a trusted and secure digital identity ecosystem for the future.
Socure is actively addressing the critical issue of identity fraud through its advanced biometric verification platform, SocureGov, which has obtained FedRAMP authorization. By emphasizing the need for enhanced identity verification in state pension programs and promoting strategic reforms within government agencies, Socure aims to strengthen the security of digital identity processes. The proposed initiatives focus on technology integration, accountability, and innovation to combat fraud effectively and protect vulnerable populations such as retirees.
Original Source: www.biometricupdate.com
