SSA database to flag synthetic identity fraud has cost issues, GAO finds
FedScoop
OCTOBER 14, 2024
The Social Security Administration is off track on recouping the costs it took to create and maintain a database aimed at helping banks catch a form of identity fraud, a new watchdog report found. Launched in June 2020 to comply with the Economic Growth, Regulatory Relief, and Consumer Protection Act of 2018, the SSA’s electronic Consent Based Social Security Number Verification (eCBSV) service was pitched to financial institutions as a way to combat synthetic identity fraud, a practice in which
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