Monday, February 23, 2015

Financial Services Employee Steals Customer Data for ID Theft Ring

A Florida woman has been sentenced to ten years and one month in prison for her role in an identity theft tax refund fraud scheme (SIRF).

The woman conspired with several others to defraud the IRS by filing false and fraudulent income tax returns using the names and Social Security numbers she obtained from a relative who worked at a financial services institution. The identity theft ring filed 526 fraudulent returns claiming $5,063,954 in refunds and succeeded in obtaining more than $1.4 million from the IRS.

"[She] obtained the personal identifying information from a relative who had stolen the data from a financial institution where she worked."
- US Attorney's Office, Middle District of Florida
It seems the identity thefts were discovered by law enforcement, rather than the financial institution holding the personal identifying information (PII). Rather than learn about ID theft from third parties organizations can proactively detect identity theft and privacy data breaches with 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.
Sources:
(a) FL: Identity Thief Sentence to More than 10 Years in Prison - www.DataBreaches.net, 01/30/2015

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