A common spoofing technique involves the hacker’s email address being just one letter or digit off from the legitimate client email address (e.g., “businessware.com” becomes “businesware.com”)—just enough to look like the client’s address and to get the tax return preparer to change the account number. Once the refund is sent to the wrong account, it is immediately withdrawn.
Tax preparers should verify with clients over the phone any changes in bank accounts before filing. It’s also wise to have insurance coverage in case the fraudulent scheme is not detected in time. For more information, contact CAMICO at 1.800.652.1772.