Wednesday, June 19, 2024

Now you can Buy and sell W-2 TAX FORMS FOR 2016 on the Dark Web

The 2016 tax season is now in full swing in the United States, which means scammers are once again assembling vast dossiers of personal data and preparing to file fraudulent tax refund requests for millions of Americans.

But for those lazy identity thieves who can’t be bothered to phish or steal the needed data, there is now another option: Buying stolen W-2 tax forms from other crooks who have phished the documents wholesale from corporations.

Each W-2 record costs the Bitcoin equivalent of between $4 and $20. W-2 records for employees with higher-than-average wages in the 2016 tax year cost more, ostensibly because thieves stand to reap a higher tax refund from those W-2’s if they successfully trick the Internal Revenue Service and/or the states into approving a fraudulent refund in the victim’s name.

Tax data can be phished directly from consumers via phony emails spoofing the IRS or employers. But more often, the information is stolen in bulk from employers.

In a typical scenario, the thieves target people who work in HR and payroll departments at corporations, and spoof an email from a higher-up in the company asking for all employee W-2 data to be included in a single file and emailed immediately.

Tax refund fraud affects hundreds of thousands, if not millions, of U.S. citizens annually. Victims usually first learn of the crime after having their returns rejected because scammers beat them to it.

Even those who are not required to file a return can be victims of refund fraud, as can those who are not actually due a refund from the IRS.

Incredibly, this scam tricks countless organizations into giving away all employee W-2 data directly to identity thieves who use it (or, in this case, sell it) for tax refund fraud.

Earlier this month, solar panel maker Sunrun disclosed that a spear phishing attack exposed W-2 tax form data on more than 3,400 employees.

Read More at Kerbs On Security

Also Read:

  1. Digital Weapons of NSA-linked Microsoft hacking tools leak by Shadow Brokers
  2. You, Too, Can Rent the Mirai Botnet
 
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Guru baran
Guru baranhttps://gbhackers.com
Gurubaran is a co-founder of Cyber Security News and GBHackers On Security. He has 10+ years of experience as a Security Consultant, Editor, and Analyst in cybersecurity, technology, and communications.

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