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Forbes Topline

How One Small Click Led To Big Headaches For A Tax And Accounting Firm

Forbes Topline

Forbes

Business News, News, Entrepreneurship, Business

4.86 Ratings

🗓️ 14 February 2024

⏱️ 12 minutes

🧾️ Download transcript

Summary

The Internal Revenue Service has been warning tax professionals to watch out for filing season-related email schemes. An Austin-based CPA firm learned firsthand how devastating the consequences can be. Kelley Phillips Erb, a senior writer for Forbes, joins ‘Forbes Talks’ to discuss the fall out after that film fell victim to an email phishing scam. Stay Connected Forbes newsletters: https://newsletters.editorial.forbes.com Forbes on Facebook: http://fb.com/forbes Forbes Video on Twitter: http://www.twitter.com/forbes Forbes Video on Instagram: http://instagram.com/forbes More From Forbes: http://forbes.com Forbes covers the intersection of entrepreneurship, wealth, technology, business and lifestyle with a focus on people and success. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

Hi everyone I'm Rose Marie Miller here with Kelly Philip Serb, a senior writer here at

0:07.6

Forbes here to tell us about an Austin-based CPA firm who learned just how devastating email scams can be especially during

0:16.6

tax season.

0:17.6

Thank you so much for joining me today, Kelly.

0:20.5

Thanks for having me.

0:22.1

So Kelly, before we jump into this, just give us a brief rundown of what happened with the CPA firm.

0:30.0

Sure.

0:31.0

I think everybody is familiar with the idea of the story, right?

0:34.3

Because we always get those emails that we know we didn't ask for that says, like,

0:38.6

we set your password.

0:40.3

And that's what happened here.

0:41.6

There was an accounting firm.

0:43.0

They had a part-time employee that received

0:46.2

one of those emails during a really busy time

0:49.0

that said, you know, please check your,

0:50.8

sorry, please change your password.

0:52.4

And so she clicked and unbeknownst to her.

0:55.6

It was a fishing scam, and what the scammers were trying

0:58.1

to do was gain access to her email, which they did.

1:01.2

And then they were able to use that access

1:03.5

to gain access to the firm's portal.

1:06.6

And that's really what they wanted to be able to do.

...

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