Monday, February 2, 2015

Financial Services Employee Stole IDs for Tax Fraud

A Florida man, a member of an identity theft tax fraud ring, has been sentenced to 10 years in prison.

He conspired with several others to file 526 fraudulent returns claiming over $5 million in refunds. The personal identifying information (PII) used in the returns was stolen by an employee of a financial institution.

"[He} obtained the personal identifying information from a relative who had stolen the data from a financial institution where she worked." -
It seems the identity thefts were discovered by the IRS, not the financial institution holding the PII. Organizations seeking to proactively detect identity theft before third parties do can utilize low-cost on-demand SaaS analytics services.
Learn how to proactively detect identity theft and unauthorized breaches of data privacy, even by authorized users - with no hardware and no on-site software.
(a) FL: Identity Thief Sentenced To More Than Ten Years In Federal Prison -, 01/30/2015

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