Search
 

Americans Not Worried About Tax Season ID Theft

Security firm IDT911 warns of a 154% increase in tax-related fraud cases from 2014 to 2015.

By Roy Urrico | Updated on February 25, 2016

Americans are ignoring basic tax season precautions and best practices that could prevent stolen identities and personal information hacks, according to a new survey from the Scottsdale, Ariz.-based security firm IDT911.

IDT911’s fraud center saw a 154% increase in tax-related fraud cases from 2014 to 2015, and there are no signs of this type of fraud slowing down in 2016. The Treasury Inspector General for Tax Administration said it expects tax refund fraud losses to reach an estimated $21 billion by 2016. In addition, the Federal Trade Commission recently announced it received a 47% increase in identity theft complaints in 2015, with tax refund fraud being the biggest contributor by far. These numbers will surely continue to rise if the proper precautions are not taken, the report said.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Roy Urrico

Roy Urrico

Roy W. Urrico specializes in articles about financial technology and services for Credit Union Times, as well as ghostwriting, copywriting, and case studies. Also: writer/editor of a semi-annual newsletter for Association for Financial Technology since 1997 and history projects funded by the U.S Interior Department, National Park Service and Warren County (N.Y.).

More from this author

Recommended Stories

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2024 ALM Global, LLC. All Rights Reserved.