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News Events

IRS Data heist affects 1,00,000 tax accounts?

The revelation of cyber criminals having gained access to around 100,000 tax accounts through the IRS application was a bolt out of the blue for the US taxpayers.

The information being accessed from the taxpayers accounts include their Social Security Numbers, addresses and birthdays. The victims of this data heist will be approached by the IRS with official notification letters. The victims will also be provided with free credit monitoring.

The responsible entities for the data heist have not yet been identified. However, the group behind the heist had access to information required to bypass the application's security layers. Access to private authentication credentials like passwords and answers to personal security questions were easily available to them. Such sensitive information was used to bypass all the security parameters.

The cyber criminals value sensitive information such as social security numbers because it can be misused to obtain further benefits such as using credit cards without the knowledge of the card holder. So business concerns need to make sure of safeguarding and protecting their sensitive information.

The use of advanced technologies to thwart hackers must be deployed by business concerns to safeguard themselves; the use of voice biometrics, fingerprint scanners or facial recognition scanners will definitely help in keeping hackers at the bay.

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