The Social Security administration declared on Wednesday a significant advancement in the modernization and security of its services with the launch of a new automatic IBAN verification system.
This initiative aims to enhance beneficiary protection by reducing the risk of errors or fraud during changes to banking data associated with benefit payments, as outlined in an official statement on the organization’s website.
What Changes?
Effective immediately, whenever a citizen registers or updates their IBAN, the system will automatically verify that the bank account specified indeed belongs to the benefit holder.
This verification is made possible through collaboration with banking institutions, utilizing protocols that allow for direct data confirmation with the banks.
Through this innovation, Social Security ensures that the entered IBAN corresponds to the expected account holder, thus preventing fraud and scams, protecting beneficiaries, and reinforcing public trust in government systems.
This measure is part of Social Security’s digital transformation strategy, focused on modernizing services and prioritizing customer satisfaction.
