Tag Archives: Michael Lyons

TurboTax’s Anti-Fraud Efforts Under Scrutiny

February 22, 2015

Two former security employees at Intuit — the makers of the popular tax preparation software and service TurboTax — allege that the company has made millions of dollars knowingly processing state and federal tax refunds filed by cybercriminals. Intuit says it leads the industry in voluntarily reporting suspicious returns, and that ultimately it is up to the Internal Revenue Service to develop industry-wide requirements for tax preparation firms to follow in their collective fight against the multi-billion dollar problem of tax refund fraud.

Texas Firm Blames Bank for $50,000 Cyber Heist

August 2, 2010

A business telephone equipment company in Texas is trying to force its bank into a settlement over an attack by organized cyber thieves last year that cost the company $50,000.

Attorneys for Dallas-based Hi-Line Supply Inc. recently convinced a state court to require depositions from officials at Community Bank, Inc. of Rockwall, Texas, to learn more about what the bank knew in the days and hours surrounding Aug. 20, 2009, when crooks broke into the company’s online bank accounts and transferred roughly $50,000 to four individuals across the country who had no prior business with Hi-Line.