June 21, 2010, Wilmington, Del. – RDC’s role in an unprecedented anti-fraud initiative for the United States Government, conducted in conjunction with its partners in the effort, took on greater import with news late last week from the White House about an expansion in its anti-fraud efforts.
At a White House press conference held Friday 18 June 2010, Vice President Joe Biden and White House Budget Director Peter Orszag praised the US Government’s Recovery Accountability and Transparency Board (RATB), specifically highlighting the fraud detection solution it put in place. That solution -- led by HMS Technologies in partnership with Palantir Technologies, RDC, and Grant Thornton -- uses a continuously updated risk feed from RDC that, in conjunction with information about specific programs from Recovery.gov, directly assists the RATB with its unprecedented anti-fraud challenge.
Vice President Biden and Director Orszag praised the RATB’s success spurring US economic growth and creating jobs with minimal fraud. The Vice President, moreover, announced that this capability would soon be utilized in other government programs, starting with Medicare and Medicaid. Meanwhile, as part of its anti-fraud initiative, the White House Friday mandated the creation of a government-wide database to ensure agencies do not send government checks to delinquent or jailed contractors, deceased individuals, or debarred or suspended firms.
As the custodian of the world’s largest public source database on risk, RDC has long maintained a comprehensive data archive that captures debarments, suspensions, and exclusions lists from around the world -- including the US General Services Administration’s Excluded Parties List System, now a requisite component of the White House’s newly-created “Do Not Pay” list.
“RDC lives to solve the most demanding risk and fraud challenges of all our clients, including the United States Government,” said RDC CEO Thomas Obermaier, adding, “We remain committed to rooting out waste, fraud and abuse through the use of cutting edge technology and advanced risk intelligence, and I personally embrace the opportunity to continue our tenacious work to support the RATB’s mission.”
About RDC
RDC, also known as Regulatory Data Corporation, delivers powerful, decision-ready intelligence and world-class risk and compliance protection, allowing global organizations to strengthen fraud protection, ensure regulatory compliance, manage supply and distribution risk, and protect their brand equity. With the world’s largest open source risk-relevant database, RDC provides AML/KYC compliance; Politically Exposed Persons (PEP) protection; emerging market intelligence; corruption, fraud and crime protection; vendor screening and monitoring; and credit risk monitoring to a wide range of clients worldwide. Founded by 20 of the world’s leading financial institutions, today RDC is a Bain Capital and Goldman Sachs portfolio company. For more information, call 888-533-1181 or visit www.rdc.com.
