Governments in every country take care of the people and they try to make lives better as much as possible by providing various sorts of benefits. One of those is the unemployment benefit scheme (aka unemployment compensation). The authorized bodies provide payments to the unemployed people in their state along with medical help (which normally vary as per the jurisdiction and the individual situation).

Unfortunately, Government institutions not only end up paying the genuinely unemployed people but also to the bad guys. This particular crime becomes possible with certain data breaches and stolen identity documents. The bad guys use stolen details of innocent people (like full name, mailing address and social security number) to falsely file unemployment claims. The victims (whose identity is stolen) may or may not be unemployed, but it does create a severe problem for them. Sometimes, it gets too late when people realize that their identity was stolen and somebody got funds from the government on their behalf.

This crime of looting government’s funds from different unemployment programs was really common even before the pandemic (COVID-19). The matter of concern is that it’s happening more than ever before (post COVID-19) across the globe. As we all know that because of this pandemic, there have been massive layoffs in every organization, in every country leaving millions of people unemployed. Therefore, government institutions everywhere are making continuous efforts to provide all sorts of possible help to the masses. 

A huge influx of funds are pumping in various unemployment schemes by every government out there but there’s no proper identity verification system in place to kick out the bad guys who are taking full advantage of this situation to fulfil their agenda (bad actors always try to earn money by exploiting various loopholes in systems).

Bad guys create fake accounts with stolen information and then find a way to divert the funds to themselves or an accomplice. These frauds not only cause severe concern among the governments (as they lose millions of dollars) but it also creates economic hardships for the victims (draining their unemployment benefit plans).

The only solution to stop this crime is to have an advanced identity verification solution in place. Identity verification solutions can help in determining if the person filing a claim is genuine (basically ‘who they say they are’) and kick out the bad actors.  

There’s a solution to everything and AZYO is here to HELP!

Researchers at AZYO have developed the most advanced Facial Recognition Technology. It is one of a kind and outstanding because it leverages Deep Convolutional Neural Networks &  Powerful Graphics Processing Units which is capable of analyzing, verifying and authenticating any human face on our planet. 

AZYO’s Facial Recognition Technology can identify people in pictures, video, or in real-time. It includes both face identification and face verification (also called authentication). Facial verification is concerned with validating a claimed identity based on the image of a face, and either accepting or rejecting the identity claim (one-to-one matching)

In addition to this, AZYO’s in-house OCR technology converts different types of documents, such as scanned paper documents, pdf  files or images captured by a digital camera into editable and searchable data. AZYO’s OCR is smart, trained and specialized which allows individuals and businesses to convert hard-copy content into digital files while simplifying the verification process.