New York SBDC Research Network

Obtained From:   New York Times If you weren’t expecting an income tax refund but discover a big deposit from the Internal Revenue Service in your bank account, don’t be quick to celebrate. You may have been the target of a clever new scam. The latest twist in tax-time identity fraud involves thieves who pilfer personal and financial information, often from professional tax preparers. They then use those details to file fake tax returns and have refunds — sometimes as large as $20,000 — sent electronically to your account with plans to collect it later.  The I.R.S. initially warned about the scam on Feb. 2, urging tax professionals to “step up security and beware of phishing emails that can secretly download malicious software that can help cybercriminals steal client data.”

Thanks to emails and calls from people who sensed something wasn't right, the Federal Trade Commission has heard that an FTC imposter scam it's written about before is back. The email tells you there’s a complaint against your business, and wants you to click on a link. Here’s what one of the scammy emails said: “This notification has been automatically sent to you because we have received a consumer complaint, claiming that your company is violating the CCPA (Consumer Credit Protection Act).According to our policy, we have initiated a formal investigation before taking legal action. You can download the document containing the complaint and the plaintiff contact information, from...” followed by a link. At first glance, it might look legitimate. It has the FTC seal, the email appears to come from an FTC email address, and the web address looks like it goes to an FTC site. But if you hover over the web address, you’ll see the link actually sends you somewhere else. If...

Who among you haven't had a client who wonders or worries about being taken in an online scam? It's a topic I've written about since we developed this blog. Since e-mail & the Internet aren't going away soon, it might be helpful to you & your clients to read the Internet Crime Report: 2006 . It's a 27-page report issued from the Internet Crime Complaint Center (the IC3), and it provides insights into the current trends being used to con people out of their money via electronic means. (You can just read the highlights here , too.) The report identifies nine broad types of online fraud, including identity theft, investment fraud, phishing, spamming, cyberstalking, and other nasty things. Appendix II of the report offers tips on how to avoid falling prey to perpetrators, too. The report represents just a fraction of the online fraud that goes on. Most crimes don't get reported. If you or any of your clients feel like they've been victimized, have t...