As Americans begin the process of filing tax
returns, identity thieves are scheming to get their
hands on that money, the Adirondack Trust Co.
warned during Identity Theft Awareness Week
in January.
Tax identity theft has been the most common
form of identity theft reported to the Federal
Trade Commission for the past five years, bank
officials said.
“Identity thieves look for every opportunity
to steal your information, especially during tax
season,” said Charles V. Wait Jr., executive vice
president. “Consumers should be on high alert
and take every step they can to protect their
personal and financial information.”
Tax identity fraud takes place when a criminal
files a false tax return using a stolen Social
Security number in order to fraudulently claim
the refund. Identity thieves generally file false
claims early in the year and victims are unaware
until they file a return and learn one has already
been filed in their name.