Why Hackers Love Tax Season: Apart from accountants who see an increase in demands for their services, few people enjoy tax season. Opportunistic hackers, however, see love tax season for all the wrong reasons. Data thieves look to steal valuable personal and financial information. Given the scope of those opportunities, hackers may well become active proponents of tax season. Because of the frantic work pace, it is entirely possible for covert hackers to tap into databases and steal vital info. So in an environment ideal for human error and cons, hackers naturally thrive. Let’s throw some light on why hackers love Tax Season.(Also see, Hackers Hate When You Use VPN)
Why Hackers Love Tax Season (And What You Can Do About)
Taxes Are Taxing -Mentally As Well As Financially
Variously advanced hackers do not use high-tech equipment to break into secure web space. Instead, they con people into revealing their personal information. When the tax season is on, there is already a lot of back and forth going on. So hackers can take advantage of that and work things out for their benefit.
Amid all hacking tactics, phishing is the most common one and the most successful. Through sophisticated tech and mimicking, hackers rob people of their essential financial info. One example is hackers accessing company email accounts. They would then read the language used and send an email that looks identical to which they request sensitive data when the time is right.
Phishing scams are present all over the net, so sending any financial data via email is risky. It would be wise to have your accountant set up an encrypted file transfer protocol before you post your information across.
Millions Of American Social Security Numbers Stolen
In 2017, a shocking piece of news hit the market. Over 143 million social security numbers were compromised. Equifax, a credit monitoring firm based in Atlanta, revealed that hackers were able to access sensitive information between May and July. They did it by using a US web app.
Various records containing names, addresses, DoBs, and social security numbers were stolen. Some accounts also had their driver’s license details taken. Alongside, about 210,000 credit card numbers were stolen as well. This is a grim scenario. This is why hackers love tax season.
How to Prevent Financial Hacking?
In a nutshell, you need to make early form submissions. If you promptly submit the right documents, this will eliminate the possibility of fraud. Always express caution if you file taxes online, but as long as you use legitimate and reputable tax software, then the chances of fraud are minimized.
How to Protect Clients As a Financial Company?
As a company, your business sustainability depends on protecting your clients from fraud. So you should implement the following practices in your protocol:
Consider the Source of Communications
All IRS communications are done through US Mail. They never contact anyone over the phone or through emails. Be wary of any such communication. Also, if someone internally requests any financial details, it would be wise to track them and authenticate them before fulfillment.
Training for Secure Financial Practices
This is important for all businesses and not just financial houses. Your organization must implement a robust cybersecurity strategy. It would be smart to train your employees on the verified practices and protocols for tax seasons. As most leaks occur because of employee error, having in-depth training related to cybersecurity at your workplace will go a long way in guaranteeing security.
Email Encryption
This one is basic for all businesses. Collaborate with an IT partner or have an in-house IT department. They will ensure cybersecurity integrity and eliminate virtually all chances of a breach. It’s essential that all departments get a set of protocols to follow. With the right security protocols, your data will stay safe and not be affected by common cyber scams.
Use VPN
Another tool you can use to stay safe from hackers is a VPN. Since a VPN encrypts your data, even if a hacker intercepts your network and gains access to your information, it will be encrypted, which means the hacker will be unable to make sense of it. This is why hackers hate it when people use VPNs.(also see, Most Secure VPN Services in 2018)
Conclusion -Hackers Love Tax Season
Online scams are prevalent and abound on the internet. However, tax season is prime-time for them and that’s why hackers love tax season. It would be wise to be vigilant and exercise caution, especially during this time of the year. With the right knowledge of how these scams are perpetrated, you should be able to protect yourself and your clients. Take care to follow the best practices and the latest protocols. This will ensure no hackers can get their hands on your sensitive information.
