Credit Card News
Advertising Disclosure
Credit-Land.com is an independent, advertising-supported web site. Credit-Land.com receives compensation from many credit card issuers whose offers appear on our site. Compensation from our advertising partners impacts how and where their products appear on our site, including, for example, the order in which they may appear within review lists. Credit-Land.com has not reviewed all available credit card offers in the marketplace.
Credit Card Applications » News » Products » Uncle Sam Is Cracking Down on Identity Theft

Uncle Sam Is Cracking Down on Identity Theft

By
Add to Favorites:
Uncle Sam Is Cracking Down on Identity Theft

With identity theft running rampant this tax season, the IRS and the Justice Department have joined forces to crack down on fraudsters using stolen information to file false claims in the hopes of getting an undeserved return.


In late January, federal authorities launched investigations across the nation which targeted 105 individuals in 23 different states. The sweep culminated in 69 grand jury indictments along with 939 counts of criminal charges being filed by prosecutors resulting in arrests in Southern California, New York, the Midwest and the South.


“This unprecedented effort against identity theft sends a strong, unmistakable message to anyone considering participating in a refund fraud scheme this tax season,” said Doug Shulman, the IRS Commissioner, according to The Salt Lake Tribune.


Additionally, enforcement agents dispatched by the IRS investigated some 150 businesses specializing in money services in nine different areas considered to be high-risk, one of which was Los Angeles, in an attempt to discover whether or not they facilitated, knowingly or unknowingly, any sort of identity theft or tax refund fraud. Currently, there are over 250 check-cashing facilities under audit by the IRS throughout the country.


“ID theft is a growing problem all across the country, and we`ve come to find out that the tax system isn`t immune. They`ve figured out that just like they can steal credit card numbers, they can file false refunds,” said Anabel Marquez, a spokeswoman for the IRS, as reported by The Los Angeles Times. She claims that approximately 260,000 fraudulent returns were identified by the IRS last year.


The agency is focusing efforts on devising new screening filters to recognize identity theft which will help agents in the spotting of fraudulent returns prior to being processed and a return is issued.


Identity theft is what happens when an individual steals then uses someone else`s personal data such as their name, date of birth and Social Security number to perpetrate fraud and other crimes. In the case of a fraudulent tax filing, many victims are not aware of what has happened until they are notified by the IRS that more than one tax return was filed bearing their personal information or else the IRS has records of wages earned from employers the taxpayer has never worked for.


Anyone fearing they may be a victim of identity theft should contact the IRS immediately and measures can be taken to secure their tax account.

Add to Favorites:

Related News:

Talking About Money Equals Happiness

By Dar Dowling, Posted: September 23, 2016

Love and money are the two biggies in life and relationships, and now, according to a new study by TD Bank, couples who talk about money have a higher happiness factor than those that don't. Continue reading
Credit Card Limits Up, Up and Away

By Dar Dowling, Posted: September 22, 2016

Credit card limits had an upswing during the first six months of this year, according to a new study by Experian, with credit card limits in both the subprime and deep subprime credit range equaling $6.4 billion – the largest amount in the ... Continue reading
Students Looking to Sharpen Financial Skills

By Dar Dowling, Posted: September 21, 2016

School days are upon us and financial literacy is on students'minds, according to the U.S. Bank Student and Personal Finance Study. Continue reading
Get the latest news, articles and expert advice delivered to your inbox. It's FREE.
Get 0% Intro APR on Balance Transfers and Purchases for 21 months. After that, the APR will be 12.24%-22.24% based upon your creditworthiness.
For Excellent/Good Credit
1% cash back on select purchases, terms apply
For Fair Credit
Guaranteed $500 Unsecured Credit Limit
For Bad Credit