I can't see that; with an IV the needle places a flexible 'catheter' in the vein and then the needle is withdrawn. To leave the rigid needle in the vein would not work - be dangerous. Also, once the catheter is in place there is a 'capillary' tube on the back that is taped to keep the catheter in place or it can pop out and cause bleeding, plus if the catheter entry into the vein is not covered with tape it would show as a small 'mound'. Not impossible but seems unlikely unless they have some different kind of contraption.
Having said all that, I do wonder about some new fangled contraption. Even so, the placement seems odd. Obviously the device is visible with the forearm raised. For an IV device the inside of the forearm between the wrist and the elbow would stay hidden and be a more secure connection - less likely to brush or catch on something.
Whatever it is it has a sinister appearance and should not be there!