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In 2020 alone, the IRS exposed a hefty $2.3 billion tax fraud in the country. Various techniques were used to carry out the data thefts during the tax season, including identity theft and refund frauds.
The year 2021 faces the same risks of data thefts and fraudulent activity using tax returns and sensitive data. From cloud data backup to email backup and recovery, there are different ways to safeguard your tax return data.
So what have you done to keep away cybercriminals and attackers?
Why Is Tax Season 2021 Vulnerable To Data Thefts?
Tax season 2021 is one of the best prime times for phishing scams and other forms of data thefts. Hundreds of emails spoofing different state tax agencies, IRS, and tax preparers will flow right into your mail daily.
You will very well know the sensitivity and importance of tax return data. Just like you, cybercriminals can also get their hands on valuable information from tax returns. Once they carry out the data theft, the attackers can use your data for various fraudulent purposes.
Some of the sensitive information present in tax returns is:
- Financial Data
- Personal Data
- Charitable Donations
- Dependents and Spouse Data
Once the attacker accesses your data, there are high chances of being misused in several different ways. So, it is essential to ensure that your information is protected against exposure to attackers and unauthorized access.
Different Ways in Which Attackers Access the Tax Returns
As the data present in the tax return is a goldmine to the attackers, they deploy various techniques to access it.
Malware
The attackers may use malware designed to steal financial data from the system. When the malware enters your computer, it will look for tax return copies and forward the entire data to the attacker. If the sensitive data is lost in the process, the only way you will be able to retrieve it is by accessing your email backup.
Phishing Mails
This is one of the most recognizable cyberattacks, which is rampant, especially during the tax season of 2021. If you fall for a phishing email impersonating your bank, the IRS, or other institutions, it will not be hard for them to extract the login credentials and copy of the return from you.
Voice Phishing
Phishing over the phone is a technique that many attackers follow to make use of gullible commoners. Just like email phishing, the attacker will pretend to be someone in authority and get in touch with you in the pretense of an official call.
By talking to you on the phone or social media, they will try to coerce you into giving away essential data regarding the tax returns.
Be it email or phone call, if anyone contacts you asking for sensitive data about tax returns, take one step back and analyze the situation. Verify the authenticity of the request by getting in touch with the requester via official channels.
Make Sure To Protect Your Personal Data
As tax season 2021 is the time when hundreds of cybercriminals and scammers around the world will be actively looking for weaknesses, you must safeguard your tax return data securely.
Keep an eye out for scammers, use antivirus protection and email backup and archiving solutions to keep your tax return data safe.
It is essential to always keep an eye out for fraudsters and quacks posing as the IRS and other tax officials. Besides taking the practical step, you should also deploy technical security measures on your device.
