Praescient Analytics to support PRAC’s mission to provide transparency and independent oversight of $5 trillion in pandemic relief funds provided by the CARES Act
FAIRFAX, VA (Praescient Analytics) SEPTEMBER 01, 2021
Praescient Analytics, LLC, an innovator in data intelligence services, today announced that it has been awarded the Blanket Purchase Agreement (BPA) to support the Council of the Inspectors General on Integrity and Efficiency (CIGIE). Under the BPA, Praescient Analytics will provide innovative IT, data management and fraud, waste and abuse investigative services to the Pandemic Response Accountability Committee (PRAC). PRAC was established as a committee of the CIGIE by the CARES Act to ensure funds of over $5 trillion intended to support American citizens, businesses, federal programs, state and local governments affected by the pandemic are used efficiently and in accordance with the law.
“The Praescient team is honored to support the 22 Inspectors General members of PRAC that are chartered with ensuring the government’s response to the pandemic relief funds have been effectively and lawfully utilized,” said Yvonne Soto, Chief Operating Officer and Founder at Praescient Analytics. “Our deep expertise in advanced analytic disciplines and methodologies powered together with our ability to uniquely customize and integrate technologies that enables deep data discovery will help PRAC to accomplish their mission while mitigating major risks.”
Praescient’s team created a demonstration using one of many advanced analytical techniques and methodologies to track and investigate Paycheck Protection Program (PPP) distribution activity. Applying notional data against entities receiving relief funds, the demonstration details when and where loans are delivered as well as a drill down of fraudulent purchases. Praescient provides the ability to identify trends and strategies fraudsters use to manipulate the CARES act by exposing illicit behaviors and discovering areas of waste and abuse. The full demonstration of how Praescient can be used in the fight against fraud of PPP is available here.
About Praescient Analytics
Praescient Analytics leads the industry in creating unique data intelligence solutions for the countries’ most critical missions across defense, intelligence, law enforcement and commercial communities. Over 40 organizations at 100 sites across five continents have relied on Praescient solutions to make mission critical and high-stakes decisions. Praescient’s team of engineers, developers, data scientists and analysts turn data into actionable intelligence that saves lives, exposes fraud and targets criminal behaviors. Praescient is a woman owned small business (WOSB), founded in 2011 by former intelligence analysts, software engineers, developers and entrepreneurs and is recognized by Inc. Hire Power as one of the top employers in Virginia and as a technology innovator by SmartCEO.