Cyber Risks · Krebs on Security

Shopping for W2s, Tax Data on the Dark Web

Summary: A dark web shop is selling raw 2016 W-2 tax form data on more than 3,600 Americans, nearly all in Florida, at $4 to $20 in Bitcoin per record, with higher wages fetching higher prices. Krebs traced the records to a Florida tax preparation firm, The Payroll Professionals, which clients say handled their employee tax forms and which acknowledged it was "aware of the potential hacking."

Key Takeaway: The records were not phished from 3,600 individuals but concentrated through one outsourced payroll provider, and the FTC reported tax refund fraud drove a nearly 50 percent increase in consumer identity theft complaints in 2015 - so a single vendor relationship can expose an entire workforce's tax data.

Read the original at Krebs on Security ↗

Topics
Fraud & Scams
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