Tag Archives: Indu Kodukula

Intuit Failed at ‘Know Your Customer’ Basics

March 5, 2015

Intuit, the makers of TurboTax, recently introduced several changes to beef up the security of customer accounts following a spike in tax refund fraud at the state and federal level. Unfortunately, those changes don’t go far enough. Here’s a look at some of the missteps that precipitated this mess, and what the company can do differently going forward.

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.