Ipsidy Inc (OTCQB:IDTY) announced a suite of biometric identity solutions Wednesday for agencies in all 50 US states and Washington DC, designed to assist them in complying with the 2020 CARES Act.
Section 242 amended the CARES Act to require the state agencies responsible for administering pandemic unemployment assistance (PUA) claims to verify the identity of applicants. The act also provides federal funding to help state agencies implement new identity verification procedures.
The company pointed to a USA Today report last week that revealed that more than $36 billion in unemployment benefits had been stolen by criminals filing fraudulent benefits claims under the names of other people.
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Ipsidy utilizes mobile technology to capture a selfie, biometrically match the selfie to a government credential and automatically validate the applicant’s state driver's license or other government-issued ID. The company’s biometric identity solutions are designed to maximize data privacy, security and identity assurance levels. State agencies can launch Ipsidy’s identity verification in a matter of days with an easy API integration into their web-enabled claims portals, the company said.
Ipsidy stands ready to help enhance states’ public benefits systems and ensure that the financial resources appropriated to help unemployed workers get into the hands of those in need, the company said.
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