I work at SSA & we operate an electronic Quality Assurance (eQA) system to review cases receiving payment under SSA entitlement programs. As a data source for the eQA system, SSA recently procured the services of contractor “Accuity Solutions” to develop and run a web-based application to verify the financial assets of claimants or family members that could affect their SSI eligibility.
This process called “Access to Financial Institutions” or “AFI” requires the cooperation of Financial Institutions who are under no obligation to provide the requested information. AFI is also limited in scope, since only local Financial Institutions within the claimant’s residing area are contacted.
The Government pays both the contractor to maintain the AFI system & the Financial Institution if they respond. Unfortunately, this AFI process does not ensure that all claimant assets are revealed, since the limited geographical scope of investigation, with no requirement for the Financial Institution to respond, and the inability to uncover other types of financial assets including investments and internet banking, are all problematic.
My solution: Financial information is already collected by the Government since the IRS requires all Financial Institutions to provide interest paid information for the account holder SSN. This includes all types of Financial Institutions including internet accounts, is not geographically limited, and also includes dividend payments.
An arranged matching agreement for this Financial information between SSA & IRS would allow a more concise evaluation of financial assets as they relate to eligibility for SSA programs and would allow Quality Assurance monitoring for other government programs subject to fraudulent activities.