Thursday, March 10, 2016

Green Dot At Center Of Tax Refund Fraud Prevention Efforts

Pasadena-based prepaid debit card provider Green Dot, as well as other fellow prepaid card providers, are apparently carefully scrutinizing tax refunds to their prepaid cards this season, according to the Associated Press. Widespread reports of pre paid card users using Green Dot, and Wal Mart's prepaid cards--which are provided by Green Dot--says thousands have had their tax refunds put on hold, and have been required to reverify their identities with Green Dot. The moves come as Green Dot has apparently been working to help stem tax fraud where hackers and others have been depositing other people's tax refunds to prepaid cards using stolen information. The IRS has been warning of a wide range of tax scams this season, including a widespread phishing scam where hackers have been phishing HR departments at companies for employee W2 information, in order to steal Social Security Numbers to file those fake tax returns.

---