Matt DeSarno, CEO of Verfico Technology, is at the forefront of addressing a critical yet often overlooked issue in the U.S. construction industry: wage theft. With a rich background spanning twenty-seven years, including two decades as a distinguished member of the FBI, DeSarno brings a unique blend of integrity, innovation, and leadership to tackle this pervasive problem. Verfico, under DeSarno’s guidance, aims to transform the construction sector through a technology-driven approach, ensuring fair compensation and fostering a culture of transparency.
“Wage theft is not as high profile a crime as, say, ransomware attacks—but it has a staggering impact,” he continued. “While ransomware theft is estimated to cost companies $11.5 billion globally, wage theft in the U.S. alone costs workers more than $50 billion annually in earned but unpaid wages. This puts their employers at risk for significant fines and penalties, as well as reputational damage.”