Identity fraud is a prevailing issue in today’s society. With so much of your personal information being accessible via electronic means, fraud detection, account takeover protection, and integrity verification services are of the utmost importance. One issue we come across more and more is enrollment fraud.
What is Enrollment fraud?
Enrollment fraud can happen in medical agencies and even in school districts. It can be when someone uses the information of someone else to acquire services, while that individual is responsible for the payments. In school district registration it can also be when someone lies about residency in order to attend a school without paying out of district tuition fees. In regards to school enrollment, this is an issue that is being increasingly cracked down on, and the penalties of such can be hefty fines, or even prison sentences.
As for the medical aspect, this is relatively infrequent, but carries a higher financial impact when compared to other forms of identity fraud. Enrollment fraud solutions can help mitigate the risk of falling prey to this type of theft.
Enrollment Fraud Solutions
These services can help businesses to filter and accept new enrollments without the risk of fraud. They can help verify account information in real time, and make sure the person has valid ownership of the bank account submitted. By being able to verify and check new applicant in real time, businesses can help keep clients safe, while making it harder for those who seek to abuse the system to gain access or services.
Identity theft can happen to anyone, and the risk increases as more and more business is conducted online. However, due to the simplicity and convenience of electronic commerce, the best way to protect yourself is making sure that solutions are in place to keep your information private. Services can also issue real time alerts in the case that your identity does fall into the wrong hands, this can help you take steps immediately to mitigate damages, which is the best way to protect you finances and credit.
Enrollment fraud solutions should be implemented in each business that services multiple clients, especially within the medical field. Anyone who has gone though having their identity stolen will tell you how stressful and time consuming the clean up can be. Help keep your clients information safe, and lower the risk of fraud within your business, but verifying each application that comes into your office.