Cybercriminals Love Tax Season. Here's How to Protect Your Business.

Tax season creates a predictable surge in cybercrime targeting businesses - and Minneapolis-St. Paul companies in financial services are especially exposed, given how much sensitive financial data moves through email and shared documents during this period.

Why Tax Season Is a Cybercriminal Favorite

• •High email volume with financial attachments makes malicious files easier to disguise among legitimate ones.
• •Time pressure and deadlines cause employees to move faster and scrutinize less.
• •W-2 and tax document phishing specifically targets HR and payroll staff, who handle exactly the sensitive employee data attackers want.
• •Fake IRS and tax authority emails exploit the anxiety that comes with tax deadlines.

Common Tax Season Attack Patterns

1. W-2 phishing scams impersonating executives, requesting employee tax documents be sent directly via email.
2. Fake tax preparer or accountant emails with malicious attachments disguised as tax forms.
3. IRS impersonation threatening penalties or legal action to pressure quick, panicked action.
4. Fraudulent refund schemes using stolen employee data to file fake returns.

Protecting Your Business During Tax Season

1. Establish a verification policy for any request involving employee tax documents or financial data - verbal confirmation required, no exceptions.
2. Train payroll and finance staff specifically on tax season phishing patterns before the season starts, not during it.
3. Use secure file-sharing systems for tax documents instead of email attachments.
4. Increase email monitoring sensitivity during peak tax season months.

Veracity Technologies helps Minneapolis-St. Paul financial services and business clients prepare for the seasonal spike in tax-related cybercrime with targeted training and monitoring.