Solving Tax Refund Identity Fraud

Solving Tax Refund Identity Fraud

Abstract: Identity thieves have been going after the big bucks by submitting fraudulent tax returns and then claiming refunds that are deposited to bank accounts and prepaid card accounts that bear no relation to the identity used on the return. The good news is that the payments industry has a solution. The bad news is that the IRS???s rules around data privacy may impede application of a process that could have saved federal taxpayers $7 billion this year.  


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Mercator Advisory Group is the leading, independent research and advisory services firm exclusively focused on the payments and banking industries. We deliver pragmatic and timely research and advice designed to help our clients uncover the most lucrative opportunities to maximize revenue growth and contain costs. Our clients range from the world's largest payment issuers, acquirers, processors, merchants and associations to leading technology providers and investors. Mercator Advisory Group is also the publisher of the online payments and banking news and information portal