How Tax Fraud Scammers Exposed SMB Risks: Lessons from an $819K Cyber Scheme
If you think tax fraud only hits greedy corporations with roomfuls of lawyers, think again. In a case that should make every small business owner sit up straight, a France-based Nigerian national is facing up to 47 years behind bars for a scheme that stole over $819,000 using phishing attacks aimed at, of all things, tax prep firms and remote small businesses. The tool? A cleverly disguised spear-phishing email campaign that unleashed malware, stole client identities, and milked the system for fraudulent IRS refunds and Small Business Administration loans.