I just read a lengthy piece by Business Insider on a Chase Bank shutdown for Bryan Sequeria. Normally I wouldn’t put people’s names in something like this, but Bryan decided to go to Business Insider to complain, provide all his details for the article, and a nice wedding photo because the shutdown happened on the day of his wedding. The article is linked below:
As it turns out, Bryan Sequeira defrauded millions of Americans by working as a Project Manager for an Electronic Medical Record (EMR) company that did the “Volkswagon Emission Testing” of EMRs. When an EMR is certified for use by the federal government, much like when a car is certified for emissions testing, it undergoes a test. Bryan Sequeira was found by the US Government to have personally known that the EMR he was working for was built to defraud the testing system.
The US Justice Department’s findings are here:
It was defrauding testing in many ways, most of which don’t negatively impact Americans’ healthcare directly, except one important point. Medical interaction warnings were not built properly. Normally, if your physician places a medication order, the EMR system will check against all other medications you are taking for negative interactions. Except for the EMR that Bryan Sequeira oversaw, which only performed the interaction check against the handful of drugs that the “emissions-testing equivalent” system was known in advance to perform.
The US Government found five people responsible. Three C-level executives/founders, Bryan Sequeira the project manager who oversaw development, and one developer/coder who did the coding. It was so egregious that the government demanded a fine of $15,000 paid personally by Bryan Sequeira.
The interest of the Business Insider piece to us on Fragile Deal is that Chase and other banks are now using Reputational Tracking scores to monitor clients and if you get sued by the Federal Government for healthcare fraud, your banks will notice and may close your accounts.
How is this actionable to us? We need to take control of what information we share on the internet. While we may not be defrauding the public and putting patients’ lives at risk like the company Bryan Sequeira project managed, it’s possible you’re posting a tweet or facebook post that triggers such systems and get you shutdown.
I’ve been a proponent of avoiding social media for years, and think this is a just a start of bank shutdowns that may extend to social media posts. Did you post a picture of you drinking too much on a holiday and then commenting about driving later? Your car insurance company might shut you down. It’s all within the realm of high liklihood as banks and insurance companies build out additional information models.
There’s a reason that last week a big news article came out regarding rankings of college degrees and #1 was actuarial science where the median pay of a new grad in actuarial science was over $100k/year right out of college.