As tax season ramps up, fraudsters are getting ready to steal personal information and cash in on fraudulent tax refunds—costing U.S. taxpayers millions. These criminals use stolen Social Security numbers and Tax Identification Numbers (TINs) to file fake returns, often as part of larger, organized schemes.
How Do They Do It?
Scammers have several methods to obtain personal information including data breaches, hacked tax filing systems, and even online marketplaces where stolen identities are sold.
Common Tactics to Watch For:
- Phone calls from imposters claiming to be IRS agents
- Phishing emails designed to steal sensitive information
- Cyber fraud, the most dangerous threat, where hacked databases provide criminals with direct access to taxpayer identities
How to Protect Yourself:
- Ignore Unsolicited Requests: The IRS won’t call, text, or email asking for personal details. If you get an unexpected message, assume it’s a scam.
- Verify Before You Act: If something seems off, go directly to the official IRS website or call them. Never trust links or numbers provided in a suspicious message.
- Use Secure Banking Platforms: Stick to secure online banking to keep your financial transactions safe.
- Monitor Your Accounts: Regularly check for any unusual activity and report suspicious transactions immediately.
- Strengthen Your Security: Update passwords often and use strong, unique credentials to help keep your accounts secure.
Reporting Tax Fraud & Suspicious Activity
If you come across a potential tax scam or fraudulent activity, take action immediately. SmartBank is here to help:
Email: ReportFraud@smartbank.com
Client Services: 1.866.290.2554
Additionally, report suspicious activity to law enforcement:
Local Police Department
Federal Trade Commission (FTC): reportfraud.ftc.gov
Your financial security is our priority. Stay vigilant this tax season and protect yourself from fraudsters looking to take advantage.