Washington, D.C. — A new “mystery shopper” report released today by the Center for Taxpayer Rights found widespread incompetence and fraud among paid tax preparers resulting in significant errors on sample returns. Senate Finance Committee Ranking Member Ron Wyden, D-Ore., issued the following statement on the new study:
“This report is proof that Congress needs to pass the bipartisan Taxpayer Assistance and Service Act to protect Americans with minimum standards for the paid preparers who fill out their tax returns. Congress has been waiting around for too long while crooked and incompetent tax preparers have been screwing up people’s taxes or outright stealing their money. My bill with Senator Crapo would protect taxpayers and fix this nationwide epidemic of tax prep gaffes and grifts.”
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This remains the most prevalent form of financial crime globally. It targets the direct access points to your money: your cards and your bank accounts.
- Skimming: Criminals use small devices called “skimmers” placed over ATM or point-of-sale card slots to capture the data from your card’s magnetic strip.
- Card-Not-Present (CNP) Fraud: This occurs during online shopping where a physical card isn’t required. Thieves use stolen card numbers, expiry dates, and CVV codes to make unauthorized purchases.
- Account Takeover (ATO): A hacker gains access to your online banking credentials (often through malware or phishing) and changes the contact details or passwords, locking you out while they drain your funds.