What is Your Risk Tolerance?


I’ll never forget the meeting. I was on the West coast in a very nice conference room of an organization interested in talking about a better way to process employment and income verifications. As we started digging into their process, it was clear that, with multiple locations, they had no visibility into:

  1. How each location was processing verification requests

  2. What data was being distributed to the requesting party, the verifiers

  3. The turnaround time per location

  4. Whether or not corporate policy was being followed

  5. Who was requesting the data

But, the catalyst that turned management’s attention to this process was a lawsuit that brought an $817,000 fine to the company for processing employment and income verification requests in a ‘non-compliant’ manner.

Many small and medium-sized companies still resort to a phone and paper-based process for responding to verification requests. This inevitably opens up organizations to liability, risk, and non-compliance issues.

Take a look at the ruling on this lawsuit, Nelson vs. Tradewind Aviation, LLC where Tradewind mishandled a manual response to an employment verification request and had to pay $400,000 in damages. Additionally, read the ruling on this $8,000,000 lawsuit: Leyshon vs. Diehl Controls.

Does $400,000, $817,000, and $8,000,000 in damages give you a reason to pause and take a hard look at your current paper-based process?

At Verifent, we’ve solved the problem for companies who still want to control their process and data, while reducing risk and liability and increasing corporate compliance associated with responding to verification requests. Contact us if you’d like to discuss your options.