SBA loan identity fraud happens when an identity thief applies for a loan, usually either an EIDL or PPP loan, using a Social Security number or business EIN.

Top 2020 Fraud Identity Theft Trends

According to the Federal Trade Commission (FTC), imposter scams were the top reported fraud in 2020. The FTC had approximately 500,000 reports of the scam, leading to an estimated $1.2 billion in lost funds.   The Identity Theft Resource Center (ITRC) saw many different forms of identity-related imposter scams in 2020, including scammers pretending to be healthcare workers with COVID-19 tests or vaccines, family members that needed help, and […]

1099-g form tax fraud

The Internal Revenue Service (IRS) and the Identity Theft Resource Center (ITRC) expect to see an increased number of Americans who are victims of 1099-G form fraud due to unemployment benefits obtained in their name. In fact, the ITRC has already received calls and like-chats about the fraud.  Unemployment benefits fraud has led to a large spike in identity-related fraud cases recorded at the ITRC. Also, the Department of Labor […]

By Eva Velasquez, president and CEO, Identity Theft Resource Center  The Identity Theft Resource Center (ITRC) expects to see the number of victims of COVID-19 identity crimes continue to rise in 2021. The ITRC’s new data shows an increase in identity crime victims being targeted multiple times (28 percent in 2019 versus 21 percent in 2018) before pandemic-related identity crimes. The ITRC expects to see victims targeted multiple times continue to rise.  Right […]

2021 tax season filing

One of the first changes in 2020 due to COVID-19 was the delay in the regular income tax filing date. Soon after that, millions of out-of-work Americans began to receive enhanced unemployment benefits and special small business loans. Soon after that, cybercriminals began to steal those benefits. The Department of Labor estimates that unemployment fraud […]

Missing Stimulus check

The IRS and Treasury Department began distributing stimulus payments the last week of 2020. Direct Deposits, paper checks and debit cards will be sent out to some Americans throughout January. No action is required by anyone to receive their stimulus payment.   Some Americans say they are missing their stimulus payment, while others claim their money was deposited […]

Image of covid 19 stimulus payment relief

*Updated as of 1/5/2021 More stimulus payments are on the way. Scammers are aware, too, which means another round of stimulus payment-related scams.   Remember, the Internal Revenue Service (IRS) will not text, email or call anyone about a stimulus payment. If someone receives an unsolicited message from someone claiming to be with the IRS, it is probably a scam. Consumers should contact the IRS directly to verify before they respond.  Offers that require people to pay to receive a stimulus […]

By Identity Theft Resource Center CEO, Eva Velasquez & Synchrony CISO, Gleb Reznik In the first ten days of the holiday shopping season, U.S. consumers spent $21.7 billion online, a 21 percent year-over-year increase, according to Adobe Analytics. According to the U.S. Department of Commerce, online sales have traditionally risen between one to two percent per year. […]

The 2020 COVID-19 holiday season is upon us. This year, consumers should be on the lookout for job scams, giving scams, grandparent scams and online shopping scams, to name a few.   If anyone comes across an unknown message regarding the COVID-19 holiday season, they should ignore it and go directly back to the source to confirm the message’s legitimacy.  People should take steps to protect their personal […]

Image of IRS homepage for non-filers

This article has been updated as of November 2, 2020 Update 11/2/20 – According to the IRS, anyone who does not usually file a tax return, or did not file a tax return in 2018 or 2019, might not know if they qualify for an economic impact payment. Nearly nine million people that fall into this category will […]