{"id":8756,"date":"2018-01-26T11:13:29","date_gmt":"2018-01-26T19:13:29","guid":{"rendered":"https:\/\/www.rentecdirect.com\/blog\/?p=8756"},"modified":"2018-01-26T11:13:29","modified_gmt":"2018-01-26T19:13:29","slug":"breach-protecting-data-tax-season","status":"publish","type":"post","link":"https:\/\/www.rentecdirect.com\/blog\/breach-protecting-data-tax-season\/","title":{"rendered":"Into The Breach! Protecting Your Data During Tax Season"},"content":{"rendered":"

\"data<\/p>\n

With cyber attacks hammering away at caches of protected data worldwide at a record-breaking pace in 2017 (791 breaches in the first half of the year), and often succeeding even against banks of information containing hundreds of millions of names, how is the “small business” possibly expected to <\/span>protect its data<\/span><\/a>? <\/span><\/p>\n

This is one of many questions touched upon in late 2017 as the IRS hosted <\/span>National Tax Security Awareness Week<\/span><\/a>, which focused on tax preparers and the protection of taxpayer filing information. <\/span><\/p>\n

As a property manager, you’re entrusted not only with employee personal data, but that of your <\/span>clients and tenants as well<\/span><\/a>. This is the precise type of information necessary for identity theft, which increases your responsibility to protect that information. <\/span><\/p>\n

The following observations and recommendations are taken from the findings and information stemming from the service announcements and research provided by the IRS and can be applied to small businesses and individual taxpayers, as well as businesses responsible for others’ personal information.<\/span><\/p>\n

Scope of the Problem<\/b><\/h3>\n

Every day, data thefts of all sizes put personal and financial information at risk. That record-setting first half of 2017 resulted in data breaches increasing by 29%, according to IRS sources. Already at this record-setting pace, the problem worsened significantly with the theft of 145,000,000 persons’ information from a <\/span>major credit-reporting agency<\/span><\/a> (Equifax). <\/span><\/p>\n

One common tactic for illicitly gathering this information is through the use of “phishing.” Most have heard of phishing by now, a process where the perpetrator issues an email pretending to be the IRS or another authoritative source requesting that you “confirm” your information. They then direct you to another page and collect any information provided – to be used for filing phony tax claims, opening credit accounts, or a myriad of other malicious motivations. <\/span><\/p>\n

Generally, thieves try to use the stolen data as quickly as possible before there is time to report it and freeze any affected accounts. That may mean selling the data on the Dark Web to other shady operations or attempting to access financial accounts for withdrawals or credit cards for charges, even a possible fraudulent tax return in victims\u2019 names for a refund.<\/span><\/p>\n

Note:<\/b> The<\/span> holiday online shopping season<\/span><\/a> and tax seasons are two of the most popular periods for cyber theft.<\/span><\/p>\n

Prevention and Correction<\/b><\/h3>\n

There are steps that can be taken to guard against cyber attacks as well as to remedy the issue if it’s already happened. The following series of recommended prophylactic steps and post-breach fixes look at the issue from several angles including:<\/span><\/p>\n