State and Local Government Agencies:
Learn more about our free fraud protection during the coronavirus crisis.
Authoriti is offering the Permission Code® platform free to state and local governments. Our goal is to eliminate vendor payments fraud.
The coronavirus crisis is impacting everyone, with massive upheaval happening at unprecedented speed. While the call to shelter at home is creating all types of disruption and uncertainty, it is an opportunity to remember the vital importance of family and friends that we all should relish and engage.
Unfortunately, the distraction caused by this crisis is also an opportunity that cybercriminals have been waiting for. Though fraudsters are already very active, and too successful, they will layer in ever more criminal transactions as business activity ramps back up.
At a time when our government officials are 100% focused on meeting their constituents' needs, the last thing they should worry about is payment fraud. That is why Authoriti is making our proven platform available to state and local governments for free, effective immediately.
How we will support you:
Our solution stops cyber criminals from being able to use the distractions caused by the crisis to perpetrate ever more fraudulent payment scams. Even prior to the pandemic, these schemes resulted in losses totaling over $1.75B across every industry in 2019, including many state and local governments.
Here’s how fraudsters are planning to take advantage of the pandemic:
Cyber criminals are attacking organizations’ vendor payment operations using commonplace scams, ranging from simply submitting phony invoices to running Business Email Compromise (BEC) scams that re-route legitimate payments.
Treasury and Finance department staff are always challenged to ensure that funds are routed to the correct accounts of real vendors, those who submit recurring as well as one-time invoices. When many new vendors are being onboarded, that task becomes even more difficult.
Here’s how the Authoriti Permission Code stops payment fraud before it starts:
Vendors submit an Authoriti Permission Code smart PIN with their invoice or payment change request.
The smart PIN contains the details of the transaction to prevent it from being misused, and guarantees that the invoice amount and payment details are digitally signed and that they originated from the original vendor.
The Permission Code allows an organization to easily validate that the changes to payment instructions are authentic, and to validate invoices before making payments. This provides absolute confidence and trust in the transaction regardless of the channel used (e-mail, telephone, fax, online, etc.)
The mobile-first Authoriti platform leverages modern asymmetric encryption. It is 100% cloud-native to provide absolute trust in any transaction. It deploys without disrupting your existing transaction system while adding an immutable security layer to any transaction.