March 2023

"An informative article for employers on how to protect their company from unemployment benefits fraud, which has become a profitable avenue for criminals in recent times. The article provides a guide on the steps employers can take to safeguard their assets, including monitoring claims, educating employees, and reporting suspected fraud. It also highlights the importance of addressing potential identity theft of affected employees and other staff members. An essential read for any employer looking to protect their company and employees from fraudulent activity."

March 30, 2023

Unemployment Fraud – Employer Guide

As an employer, you might think that identity theft and fraud only happen to individuals. However, fraudsters are not only after personal information but also after company assets, particularly unemployment insurance funds. With the easing of regulation and an increase in benefit amounts, the filing of fraudulent unemployment claims has become a particularly profitable avenue for criminals recently. In fact, according to the Government Accountability Office, in 2020 alone, the US government paid out over $12 billion in fraudulent unemployment benefits. What is unemployment fraud? It occurs when someone knowingly and willfully makes false statements or withholds information to obtain unemployment insurance benefits. During the COVID pandemic, unemployment fraud has skyrocketed due to the high number of people who lost their jobs and the increase in benefit amounts. Fraudsters have taken advantage of overwhelmed state agencies that are responsible for processing claims and submitting false claims on behalf of others, […]

March 15, 2023

SVB Collapse Enables Scammers

Brian Thompson Breach, General, Identity Theft

Silicon Valley Bank (SVB) collapsed on March 10, 2023, which has caused a ripple effect throughout the global financial system. Unfortunately, the SVB Collapse Enables Scammers to take advantage of the situation and use the bank’s downfall to scam people. SVB was a US-based commercial bank and the 16th largest bank in the country, which also happened to be the largest bank by deposits in Silicon Valley, California. The bank failed after a run on its deposits, which has impacted many businesses and people in the technology, life science, healthcare, private equity, venture capital, and premium wine industries who were customers of SVB. What they are using Security researchers have noted that hackers are registering suspicious domains and conducting phishing campaigns, preparing for business email compromise (BEC) attacks. These attacks aim to steal money, steal account data, or infect targets with malware. Researcher Johannes Ulrich has reported that threat actors […]

March 9, 2023

Open Season for Tax Identity Thieves!

Brian Thompson Identity Theft Identity Fraud, Identity Theft, Identity Theft Protection, Tax Fraud, Tax Identity Theft Awareness Week

Open season for Tax Identity Thieves is in full swing. They are ready for you to procrastinate, to hold off on doing your taxes because they are ready to do it for you. Tax identity theft occurs when the bad guy uses your Social Security Number (SSN) to file a fake tax return and collect your refund. You are unlikely to find out about it until you attempt to file your real tax return and it is rejected by the IRS as a duplicate. The fraudulent use of your SSN means you also may be at risk for other types of identity theft. What to do. Beat them to it and file your taxes as early as possible to ensure you do not become a victim. This is extremely important if you know your information has been part of any one of the data breaches over the years or if […]

March 1, 2023

Don’t Wait to Protect Your Clients

Brian Thompson Identity Theft

Agents, you have a unique opportunity to help protect your clients from the threat of identity theft by offering protection as part of your benefits package. Don’t Wait to Protect Your Clients. Below you will find five persuasive reasons why you should start offering it to all your clients today. 5 Reasons to offer identity theft Protect your clients: Identity theft can lead to significant financial losses, damaged credit scores, and even legal trouble. Help your clients avoid these risks and give them peace of mind with identity theft protection. Stay competitive: Identity theft is becoming more prevalent. Many employers are looking to offer or already offer identity theft protection as a standard part of their benefits package. Stay competitive and attract new clients who value this type of protection. Build client loyalty: Offering id protection shows your clients that you care about their well-being and are willing to go […]