By Mitch Clarke, Marketing —
Nobody likes feeling exposed, but last year’s Equifax hack sure left a lot of people feeling vulnerable. The truth of the matter is this: hackers may already have your information. As a result, they could also have your tax return going into their bank account.
The IRS Struggle
As long as a hacker has your personal identifiers such as name, birthdate, and social security number, they are completely capable of submitting a fraudulent tax return in your name. Worst of all, once they’ve claimed the money in your name, you won’t see a dime. Plus, the IRS will talk to you about the questionable numbers. After all, ‘you’ were the one that filed taxes.
Avoiding Tax Fraud
One solution proposed by tax consultants is filing your taxes as early as possible. Once you’ve filed, there is no way a hacker could, even if they had your information. This, however, doesn’t change the fact that someone out there still possess your personal information. IdentityDetect™ is a great way for institutions requiring personal identifiers to verify that the person requesting the transaction is actually who they say they are. IdentityDetect™ is a quick, web-based assessment which analyzes keystrokes and pauses. Those wishing to open a new bank account or apply for a driver’s license can be asked to enter their identifying information using the IdentityDetect™ system. A score is given to the institution which verifies the applicant’s identity. Though somebody may have your information, this system prevents them from ever being able to use it.