RISK: TurboTax halts filings after fraud spike

TurboTax doesn't believe it was victim of cyber attack

Tax preparation software TurboTax in the U.S.  has stopped processingAmerican state tax returns because of a spike in fraudulent filings.

These were mostly made using stolen personal information, and victims found out after receiving a rejection notice when they filed their returns.

Intuit, the company behind TurboTax, doesn’t believe they faced any security breaches but that information was stolen elsewhere. A TurboTax Canada spokesperson says there have no impacts felt here at home, mainly because returns handled by the company doesn’t enable users to redirect their filings.

Read Advisor.ca’s story for more details.

 

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