Last year, an anti-fraud organization recorded a total 89,000 cases of identity theft in the UK over the first half of 2017. According to Cifas, the figure was a record high and represented a five percent increase in identity theft cases over the same period in the previous year. Cifas chief executive officer, Simon Dukes, said that the claims were increasing at an alarming rate over the years with a new high of about 500 stolen identities daily.
Due to the IRS budget cuts, the confusion regarding the new tax law, and the vast amount of data compromised, the filing season for 2017 may be rampant with tax-related crimes. There were 787,000 identity theft returns confirmed and stopped by the IRS last year. The total exceeded $4 billion. The IRS projected a $21 billion loss in 2016 for fraud.
The Internal Revenue Service (IRS) in conjunction with the State Tax Authority has waged a fight against identity theft through tax systems. During their previous summit, reports of notable progress on the initiative were tabled, while new procedures were laid out for the next phase.
Identity theft is a massive problem that has affected seemingly countless individuals all over the United States and planet. It can lead to all sorts of headaches and inconveniences, too. Few things can be more frustrating than dealing with the effects of stolen credit cards. Identity theft can even do a number on your credit score. If you want to safeguard yourself from all of the negative effects identity theft can introduce to your life, then a few preventative measures can go a long way, to put it mildly.
Identify theft is a serious problem that has victimized more than 13 million people in the United States. One of the most effective ways to stop this type of felony crime is to shred important documents containing personal information.
Once a thief compromises your identity, it can take months and even years to restore things back to normal. Identity thieves may be able to purchase items or acquire loans in your name. While it may seem a rather simple procedure to prove your identity, this is not always the case.