Beware of Tax Refund Fraud During Tax-Filing Season

MAXIME ROUSSEAU | February 13, 2018

article image
Tax refund fraud involves criminals using stolen personal information (including Social Security numbers) to file forged tax returns and then pocket tax refunds themselves, leaving the legitimate tax payer on the hook. Last year, data breaches (such as the Equifax one) compromised millions of Social Security numbers, so the amount of fraud is likely to increase this year. And tax refund fraud tends to spike early in the tax-filing season because thieves need to act quickly before victims have filed legitimate returns.

Spotlight

Etiqa Insurance and Takaful

Etiqa is the Insurance & Takaful arm of Maybank Group. We pride ourselves on our comprehensive policies without any jargon or hidden clauses, and more importantly, without any catch. At Etiqa, we place people over policies.

OTHER ARTICLES

TIME TO DRIVE API INNOVATION THROUGH OPEN BANKING

Article | March 31, 2020

As the paper points out, application programming interfaces (APIs) are starting to significantly disrupt corporate banking. Nearly nine in ten (86 percent) banks are working on Open Banking and open API platforms, and nearly half (47 percent) of corporate treasurers see opportunities for banks to improve their product offerings to provide innovative solutions that go beyond traditional services.

Read More

AI in Fintech: a Wellspring of Opportunities

Article | March 31, 2020

Fintech is considered one of the fastest growing industries, which is hardly surprising. Anyone who’s dealt with a bank recently would be overjoyed to discover a more customer-friendly financial service, with transparent fees and superior customer care. Transferring money through services like Venmo is a lot more convenient than any of the options provided by your local bank. Likewise, shopping for a loan using services like LendingTree is incredibly easy when compared to actually going to your bank, waiting, then dealing with the paperwork.

Read More

Covid-19 and the rush to Digital banks

Article | April 7, 2020

Umberto Eco once wrote “Everything is repeated, in a circle. History is a master because it teaches us that it doesn't exist. It's the permutations that matter.” In addition to the effects on the supply and demand side, COVID-19 has jolted financial markets across the globe as oil, bond yields, and equity prices fall, and trillions of dollars, across all asset classes seek safety. As we career towards another global financial crisis, which banks have learnt the hard lessons of 2008?

Read More

How Lending-as-a-Service Can Impact Small Businesses in Need

Article | March 31, 2020

One of the brutal facts of the COVID-19 outbreak is that it will be difficult for small businesses to survive. The self-distancing and shelter-in-place orders, while temporary, are taxing for already cash-strapped merchants. Adding to the hardship, small businesses may find it especially difficult to get a much-needed loan from their local bank or credit union since many have closed physical branches to encourage social distancing. And while banks offer many services online, only 1% are capable of extending a loan digitally.

Read More

Spotlight

Etiqa Insurance and Takaful

Etiqa is the Insurance & Takaful arm of Maybank Group. We pride ourselves on our comprehensive policies without any jargon or hidden clauses, and more importantly, without any catch. At Etiqa, we place people over policies.

Events