As part of its continuing efforts to combat the serious problem of identity theft, the Internal Revenue Service (IRS) has issued a fraud alert for international financial institutions complying with the Foreign Account Tax Compliance Act (FATCA).
According to the report, scam artists posing as the IRS – through attacks known as ‘phishing attacks’ – have fraudulently solicited financial institutions seeking account holder identity and financial account information.
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In its fraud alert, the IRS reminds FFIs that it does not require financial institutions to provide specific account holder identity information or financial account information over the phone or by fax or email.
Further, the IRS does not solicit FATCA registration passwords or similar confidential account access information.
"Tax scams using the IRS name can take many forms and they are not limited by national borders," said IRS Commissioner John Koskinen. "People should always be cautious before sending sensitive information to anyone."
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By GlobalData
