Insights

The Importance of Securing IT Systems

When it comes to creating a system that is going to process
mass quantities of requests and transactions its essential to make fraud
prevention a top priority. After all, whats the point of putting hours of work
into a system only to have it compromised or used for fraud when its finished?
A solid fraud
prevention strategy
can prevent a big mess from the beginning.

Since were on the topic, lets talk about the recent
audit
that was done on the Affordable Care Act system that will process refundable
tax credits. The audit exposed that the system wasnt built to properly detect
fraud. Without an adequate solution in place the IRS
might not be able to identify tax fraud or schemes prior to the issuance of the
refunds. The entire system is the perfect landscape for fraudsters to
manipulate.

With the ACA
system, the tax credits will be paid to the user first and then verify their
income later. Inevitably, this process will lead to potentially billions of
dollars of improper payments and put millions of Americans personal information
at risk. It is important for the IRS to thoroughly consider fraud threats and
risks that could impact the new ACA systems. Robust solutions within the new
system should be required to help reduce improper payments and risk. Its
interesting that such a large system would be deployed without proper detection
and security for its users.

In order to make sure the credits get to the correct people,
a fraud
prevention plan
must be in place immediately. There needs to be a
comprehensive prevention strategy to guide systems through the development,
testing and implementation process. These IT systems also need to be managed
and monitored constantly for fraud risks. Verification and authentication
processes should not be taken lightly, especially when users personal
information is on the line.

[Contributed by EVS Marketing]

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