Our Mission in Double Time
While many current social media memes humorously spotlight just how long a month of quarantine can feel, a very serious observation is how rapidly things are changing in ways never imagined and how differently the world is operating. Even as we have settled into Zoom workdays while managing familial needs and concerns, the world of financial crime has not taken a pause.
At RDC we pride ourselves on being mission-driven: fighting financial fraud and helping provide security to the financial markets. This has been our singular focus for two decades. It has never been more true or important than now. Over the past weeks, I am proud to lead an organization that has applied our market-leading technology to continue to provide the vigilant coverage our customers require. No small feat in our current environment.
Over these same weeks, we have identified many new criminal entrants as well as the return of repeat offenders; these bad actors are actively looking to take advantage of any crack in screening attention and to target susceptible individuals and organizations. Economic turmoil, changes in spending patterns, and an increase in vulnerable populations can each lead to fraud scenarios. One hopes this will not be the case, but we know logically this is when the bad guys come out to play.
One recent scenario and solution is especially gratifying. We watched the news to see hospitals in several global hot spots needing large quantities of basic supplies. The bad actors watched too. With every call for facemasks or ventilators, a financial crime opportunity is unfortunately born. In just a few short weeks we identified significant financial fraud regarding PPE (a term we now all know) and medical equipment.
Monitoring these trends, we quickly partnered with our colleagues at Moody’s Analytics to develop a rapid response to help. Using our PEPs database and the intelligence gleaned from Adverse Media findings, coupled with insights from Cortera’s commercial credit network, we are bringing transparency to unscrupulous players. This means we can enable hospital and healthcare networks and decision makers to identify, screen and qualify new vendors. Helping the people behind the scenes do this work efficiently and immediately allows them to select reputable vendors and get the right equipment on site so that the doctors and healthcare professionals can do the work of saving lives.
I could not be prouder of our employees who rallied to this call. Interesting how a technology-driven customer screening company can be a part of the solution. By being purpose driven, we were able to be solution focused and help our communities. This is how we will act today, tomorrow and the day after. Financial criminals don’t stop, neither does RDC.
May you and yours stay healthy and safe.
Please let us know how we might help you.