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Cyber Risks · Krebs on Security

Citing Tax Fraud Spike, Turbo Tax Suspends State E-Filings

Summary: Intuit temporarily suspended transmission of state e-filed tax returns on Feb. 5 after a surge in complaints from consumers who found refunds already claimed in their names, and a third-party security audit found no breach at the company, with the data appearing to come from outside sources. Intuit said it would begin turning state transmissions back on and that federal filings were unaffected, then updated on Feb. 7 that it had restored state e-filing and was enabling multi-factor authentication for all TurboTax customers without specifying how it would work.

What you should know: Hacked TurboTax and H&R Block accounts were selling on the Evolution Market dark web forum for about 4 cents apiece, and because they typically carry prior-year return data and the filer's adjusted gross income - which the IRS uses to verify identity - stolen credentials alone were enough to file a fraudulent return.

Read the original at Krebs on Security ↗

Topics
Data Breaches
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