SME Business News

HM Revenue & Customs (HMRC) has just updated its website, flagging up a stack of new phishing scams being sent out via email, saying that recipients are eligible for a tax refund. With April marking the start of the new tax year, there has been a wave of email phishing scams targeting small business owners who fill out self-assessment forms.

Neil Munroe, External Affairs Director, Equifax, is urging anyone who fills in a self-assessment form to be on the look out for phishing scams, which are being used to steal User IDs and passwords: “Fraudsters seem to be targeting tax payers around key deadlines and they are using the very enticing promise of tax refunds!

Many of these emails can look very convincing for people who don’t know what to look for. But the crucial thing to remember is that HMRC would always notify individuals of tax refunds by post, rather than email or telephone. 

With APACS, the UK payments association, reporting in March that online banking fraud losses had increased by a staggering 132% year on year, it is essential that tax payers recognise the threat of fraud and learn how to recognise a fake email. HMRC is also warning people about a rise in fraudulent telephone calls, asking for passwords and secure information. So make sure you know who you are talking to and always check before responding to emails.”

How to spot a phishing scam:

* Organisations like HMRC never ask for personal details via email

* Tax refunds are always notified by post

* Check for the padlock symbol in the bottom right hand corner of your web browser when you log on to HMRC Online Services

* Look for your name at the top of the email – fraudulent emails won’t address you personally

* Links may take you to a website that looks genuine, but is probably fake

* Never give out personal information

* Delete phishing emails immediately

* If you have been a victim tell your bank immediately

* Sign up for a service like Equifax Credit Watch to alert you of any fraudulent activity