Data Privacy & Security Service
Issue 11
RECENT EVENTS & CYBERSECURITY NEWS
Data Privacy and Security Service Digital Digest
NEW SENATE BILL INTRODUCED TO HOLD COMPANIES ACCOUNTABLE
Senator Elizabeth Warren along with Senator Mark Warner introduced a cybersecurity bill (Bill S.2289) in January that would impose strict financial penalties when data breaches occur and require higher recovery compensation for customers of hacked credit reporting agencies. If passed into law, the bill would give the U.S. Federal Trade Commission the authority to inspect the companies that collect vast amounts of financial data on consumers to make sure they're protecting that information. It would also let the agency fine them in the event of a data breach, to the tune of $100 per affected consumer as a minimum. Half of that money would be redistributed to the consumers caught up in the data breach. To read more please check out the following links: Huffington Post: https://www.huffingtonpost.com/entry/elizabeth-warren-equifax- bill_us_5a561c07e4b03417e873e3c9?section=us_politics Fortune: http://fortune.com/2018/01/10/elizabeth-warren-mark-warner-equifax/
For Further Information Contact Your Local RIC. Click here to find your local RIC contact
THERE’S A NEW IRS TAX SCAM THAT COMES WITH A TWIST
The IRS warns tax payers to be aware of a new tax scam. Cyber-criminals steal taxpayer data from tax professionals and then use that information to file fraudulent tax returns. Once the tax refund goes into the taxpayers’ bank account, the criminals use a variety of strategies to convince the taxpayer to turn the money over to them.
“It’s a new twist on an old scam,” wrote national tax writer Kelly Phillips Erb.
For Subscribers to Service:
In one scenario, criminals may try to pose as debt collection agents working on behalf of the IRS. They explain the refund money was deposited in error and provide information on how to forward the money to the collection agency. In another scenario, the taxpayer may get an automated call from the “IRS” threatening the taxpayer with fraud charges, an arrest warrant and a “blacklisting” of their Social Security number. The pre-recorded message provides the taxpayer with a case number and a number to call to return the refund. Take note– the IRS will never communicate with a taxpayer with a phone call or email. If you are contacted by the “IRS” using these communication methods it’s a scam. Why does it work so well? Because the taxpayer has a refund in their bank account as “proof.” The scammer will know the exact amount of the refund and may share other per- sonal details about the taxpayer they have acquired. If you cashed a paper check of a fraudulent refund, return the money to the IRS immediately via personal check or money order, with a note explaining it is a repayment of a false refund. Do it fast to avoid paying interest on money that wasn’t really yours. Also , contact your tax preparer immediately. Thieves are targeting tax preparers using phish-ing and other tactics to obtain client data for their scheme.
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Read the full article here: https://www.huffingtonpost.com/entry/new-irs-tax- scam_us_5a85cdd6e4b004fc31901085
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