10 May 2021 | News
Seeks to Enable COVID-19 Relief Teams to Verify Suppliers and Combat Fraud
Crediwatch (CW), a digital trust platform backed by leading investors from Silicon Valley, has developed tools to help validate medical service providers for Covid-19 relief across India, in a bid to combat fraud in relief efforts.
CW aims to enable Covid-19 relief workers, doctors, hospitals and resource teams to quickly ascertain the bonafides of a supplier of medical supplies such as liquid oxygen, medicines, surgical masks and so on.
Unfortunately, this crisis has seen bad actors take advantage of relief work. For example, bogus suppliers have not delivered medical oxygen that they were paid for by aid organisations. Many fraudsters have emerged who claim to offer a service and fail to deliver after collecting premium payments for it.
“Validation of supplier or vendor information on relief networks and websites is a manual process, making it time consuming. This is diverting our resources and reducing the impact of relief work at a crucial time,” said Meghna Suryakumar, founder and CEO of Crediwatch, adding, “As startups and business leaders, we realise that we are in a position to impact this unprecedented situation positively.”
CW’s web platform or APIs (application programming interface) enable relief networks to instantly run checks on businesses claiming to offer a service. CW’s bot infrastructure and proprietary scores will identify any potential risks with a business entity. Only validated businesses can be retained by various relief networks providing critical care across India.