News- IRS is Latest Victim of Identity Theft Fraud

News- IRS is Latest Victim of Identity Theft Fraud

Although a lot of focus by the media has been about how the IRS incorrectly paid out billions in refunds to identity thieves in an IRS Identity Theft fraud scheme, but isn’t it more troubling our American identities are somehow ending up at an increasing rate in the hands of criminals in the U.S. and Abroad?

“More American identities stolen in first half of 2013 than in all of 2012″, an IRS watchdog stated in a recent article – http://www.nbcnews.com/business/tax-refund-id-theft-growing-epidemic-irs-watchdog-8C11557603

The estimate is 1.6 million Americans had their identities stolen (in first six months of 2013) specifically for the purpose of defrauding the IRS.  Refunds over 3.6 Billion dollars were issued to both U.S. mailing addresses and addresses overseas.

Ask your favorite identity theft protection monitoring service if they are watching for your identity used in an IRS Fraud scheme.  Whatever the answer, the truth is they have no way of monitoring for this problem.  See a prior blog post called “50 Stolen Identities Not Used for Credit or Loans”  There is an alarming trend for American identities used for purposes other than direct credit or loan fraud.  As stated in my prior blog post there are many reasons to steal identities besides direct credit fraud and those range from filing for government benefits to avoiding taxes or garnishments.  IRS fraud is another use of American identities the identity theft protection services cannot assist you with.  Instead we need to fix the private security breach.

So just how are identity thieves getting our identities in the first place?  If you read my blog post “Your Biggest Security Breach May be Your Background Check Vendor” you will see a few ideas I have on the subject.  Online, free, instant “background check” services are all over the internet.  My assessment of those services is they provide poor quality, invalid response data and the American public contributes by entering clean, viable, valid American identities into those online applications.  These companies are not regulated so they are the weakest link in American private security.

For Comment:  I’d like to know what you think?  Where are these identity thieves getting our identities?  An identity is full name, date of birth and full matched social security number.  Losing a wallet won’t cause this.  

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