INSIGHTS & EVENTS

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It’s Tax Season, Beware of Tax Scams

By JEANMARIE F. MOORE, CPA

March 3, 2020

Insurance agents and other professional service providers must protect their client’s sensitive data. This includes everything from their personal contact information to their Social Security number, bank account information, coverage and other types of sensitive information like the names of family members.

All professional insurance agents should be held accountable for client data security. This can include simple measures like having all computers go into sleep mode, to requiring that laptops are locked away and never left in a potentially dangerous place such as a car.

Agents should never use public Wi-Fi, review a sensitive document in a public place, or share passwords with anyone. Make sure all your employees have a different password for every app they use in the course of doing business. Insurance agencies that are victims of a data breach can face financial, legal and other consequences if sensitive personal and financial client-related information is stolen. A data breach is just one type of a fraudulent scheme used to victimize agents and clients. The IRS and other officials frequently issue warnings on other fraudulent schemes.

About the Author

Jean is a Partner Emeritus and focuses on serving the tax, accounting, and assurance needs of nonprofits, educational institutions, professional service firms, and technology companies. She also works with high net worth individuals, assisting with estate planning and trust administration’s complex task, ensuring every opportunity to retain, grow, and transfer family wealth is leveraged in...

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