For years, "polygraph" and "lie detector" have been synonymous. That's because since 1939 the FBI has been using the polygraph — an instrument that monitors a person's involuntary physiological reactions. Its accuracy is estimated to be between 65 and 85 percent. No other viable, proven solution to detect deception has emerged to join the polygraph, until now.
Scientists at Converus have spent the last 10 years perfecting a noninvasive lie detection method called EyeDetect, which monitors eye behavior, making it the first deception detection product based on an ocular-motor deception test. Validation trials showed it 85 percent accurate. The exam only takes 30-40 minutes.
"We deal with a lot of sensitive information where the potential for risk is very high," said Vilash Poovala, co-founder and CTO of PayClip. developer of Clip — a card reader that enables users in Mexico to accept credit and debit card payments through their smartphones and tablets. "We need to make sure the people we hire can be trusted. Technology like EyeDetect that can effectively screen potential employees for previous issues with theft or fraud is long overdue."
Corruption and fraud is a $2.6 trillion worldwide problem annually, with businesses some of the hardest hit. For example, $400 million was recently stolen from Citigroup Inc.'s Mexico unit, Banamex. Converus will focus its initial efforts showing businesses how the EyeDetect technology, when used for pre-employment and periodic screening of existing employees, can help to more effectively manage risk and ensure workplace integrity.