Posts Tagged ‘Anti-Identity Theft Policies’

Payroll, HR Departments Targeted By Cyber Criminals

Friday, March 4th, 2016
Identity Theft | Refund Fraud | Ohio CPA Firm

The best thing to remember when it comes to protecting your business, and yourself, from becoming a victim of fraud is that if something seems a little out of the ordinary, it’s worth checking out before you act. Read on to learn about the newest threat to your identity.

Over the last few years, the threat of refund fraud and identity theft has become a very real concern, and criminals have proven that they will go to great lengths to get the information they need to complete their scams. This recent phishing scam is no exception.

Read Also: Join The Fight Against Identity Theft & Income Tax Fraud

Criminals Phish HR, Payroll Departments

The IRS recently alerted payroll and human resources professionals of an “emerging phishing email scheme that purports to be from company executives and requests personal information on employees.” The scam has already claimed several victims.

IRS Commissioner John Koskinen said that this particular tactic appears to be “a new twist on an old scheme.” These cyber criminals are using the cover of tax season to trick people into sharing confidential data.

“If your CEO appears to be emailing you for a list of company employees, check it out before you respond,” said Koskinen. “Everyone has a responsibility to remain diligent about confirming the identity of people requesting personal information about employees.”

According to the IRS, a criminal investigation is already in place and several cases in which people have been tricked into sharing social security numbers and other sensitive information with criminals are being reviewed. Officials report that criminals regularly use the stolen personal information to file fraudulent tax returns for refunds.

Remind Employees To Remain Alert

To avoid becoming a victim of this particular scam, encourage your employees to pay close attention to emails that contain the following information:

  • The actual name, title and contact information of somebody in the company

o   Oftentimes, criminals will use the name of the company’s CEO to enhance the message’s legitimacy.

  • A request to provide sensitive information, including:

o   The names of employees along with their Social Security Numbers, date of birth, address, and/or salary

o   A PDF of an individual’s 2015 W-2 or an earnings summary of all the company’s W-2s.

Other Scams Abound For Businesses, Individuals

Unfortunately, businesses appear to have seen an increase of cyber attacks – especially over the last year. Last June, the Financial Services Information Sharing and Analysis Center, the FBI and the United States Secret Service issued a fraud alert in response to a scam dubbed the “Business Email Compromise,” in which fraudsters compromise “legitimate business email accounts for the purpose of conducting an unauthorized wire transfer.”

Also, in response to a nearly 400 percent increase in phishing and malware incidents so far during this tax season, the IRS also renewed its wider consumer alert for email schemes. These emails are designed by scammers to trick taxpayers into believing they are being sent directly from the IRS, other tax industry professionals and/or software companies.

The best thing to remember when it comes to protecting your business, and yourself, from becoming a victim of fraud is that if something seems a little out of the ordinary, it’s worth checking it out before you act.

By Ashley Matthews, CPA (Dublin office)

Want to take steps to ensure that you won’t be a fraud victim this year? These articles feature information that can help.

How can you protect yourself from tax fraud

Identity Theft Prevention: Tips To Reduce Your Risk of Becoming a Victim

How To Recover From Identity Theft & Refund Fraud

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National ID Theft Awareness Month: Get in the Know

Saturday, December 26th, 2015

Stop Criminals From Hijacking Your Identity With These Top 5 ID Theft Prevention Posts

ID Theft Awareness | Rea & Associates | Ohio CPA Firm

Identity theft is a scary thing and you don’t want to become a victim. Take some steps now to protect yourself in the future.

December is National ID Theft Awareness Month and the fraud prevention team at Rea is a wealth of information when it comes to sharing great tips to help taxpayers protect their identities from fraudsters. Instead of scrolling past posts in our expansive article library or award-winning blog, we’ve compiled this Top 5 list to make your search for information easier. Read on to discover how you can prevent cyber criminals from hijacking your identity all year long.

Read Also: Let’s Talk About The F-Word

  1. WARNING: Tis The Season To Practice Safe Online Shopping Habits: While it may be the most wonderful time of the year, cyber criminals are looking for ways to stuff their own stockings – at your expense. The holiday season is also a busy time of the year for scammers because, in general, more money is being spent and more people are clicking through cyberspace for the best deals and tracking their purchases. Find out what you can do to keep your identity safe this Holiday season.
  2. Cyber Crime: It Can Happen To You: Fraudsters don’t take holidays. In fact, they tend to be more active this time of year because they believe we are more likely to let our guards down. I don’t intend on falling for any of their traps, and I encourage you to do the same.
  3. Malware Threat Spreads To Smart Phones: Researchers and IT security experts from ESET, a global IT security company, recently announced that they had discovered a malware application that is designed to encrypt files and change PINs on Android devices in the United States. In return, victims are demanded to pay up to the tune of $500. Only then will hackers provide users with the recover key. Keep reading to learn how you can protect yourself.
  4. Should I Still Be Concerned About Identity Theft And Tax Fraud?: Identity theft and tax fraud are problems that show no signs of stopping. In 2015, in an attempt to provide an added layer of protection, taxpayers in Ohio had the opportunity to get up close and personal with the Ohio Department of Taxation’s (ODT) newest fraud safety measure – the Identification Confirmation Quiz. Read on to see how this quiz has helped reduce fraud in Ohio.
  5. How To Recover From Identity Theft & Refund Fraud: Suspecting, and then confirming, that you’ve had your identity stolen is a nightmarish scenario. It combines one of your worst fears, losing your wallet or purse, with all of the work of replacing the things that were lost. It can be so overwhelming you might be wondering: “Where do I even start?” We can help you answer that question.

Identity theft is a scary thing and you don’t want to become a victim. Take some steps now to protect yourself in the future.

Want to learn more about keeping your identity safe? Email the team at Rea & Associates, our fraud prevention specialists can be an important of keeping your information protected.

By Joe Welker, CISA (New Philadelphia office)

Looking for tips to secure your business from fraudsters? Check out these posts:

Fraudulent Credit Card Transactions Will Become Merchant’s Problem On Oct. 1

Who Is That Email Really From?

Businesses Beware: Sloppy Data Security Could Cost You

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Should I worry about Red Flag Rules?

Wednesday, May 26th, 2010

On June 1, the Federal Trade Commission begins enforcing “Red Flag” rules, which require businesses to implement anti-identity theft policies. Created through Fair and Accurate Credit Act of 2003, the regulations require businesses that extend credit to consumers to develop a written policy that identifies warning signs and suspicious activities (i.e., red flags) of possible identity theft, and tactics to address and prevent it. If your business defers payment for goods or services, you must follow the Red Flag rules. (more…)

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