Hackers stealing tax refunds

Be sure to verify that changes in bank account numbers are legitimate when e-filing tax returns. Hackers will send fraudulent email messages with bank account numbers different from the legitimate client account numbers in an attempt to divert tax refunds into their own accounts.

First- and Third-Party Cyber Coverage from CAMICO

First-Party Coverage*

CAMICO Mutual Insurance (CMI): CyberCPASM, Endorsement PL-1045-A, adds four first-party cyber coverages; $50,000 and $100,000 limits options; optional endorsement.

  1. Breach Response Costs
    • Notification Expenses: legal expenses, computer forensic and investigation fees, public relations expenses, postage expenses, advertising expenses.

CPA Mobility Issues and How CAMICO Helps

CPA mobility, or interstate practice, allows licensed CPAs to practice across state and jurisdictional lines as long as the CPAs are in good standing in their principal jurisdiction and meet “substantial equivalency” criteria. The website www.CPAmobility.org is a useful resource maintained by the National Association of State Boards of Accountancy (NASBA) and developed by NASBA and the American Institute of CPAs (AICPA).

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