TransUnion's analysis, released on March 5, 2025, identified an elevated risk for tax fraud in 2025, linked to 970 data breaches that occurred in 2024. These breaches exposed 640 million consumer records containing personally identifiable information (PII) crucial for various forms of tax fraud.
The report highlighted that full Social Security numbers were exposed in 71% of data breaches in the first half of 2024 alone, a significant increase from 57% in all of 2023. This level of exposure creates tremendous vulnerability for consumers and government agencies.
Greg Schlichter, director of research and consulting for TransUnion’s public sector business, emphasized the need for government agencies, financial institutions, and consumers to be alert to this threat. TransUnion's TruValidate™ Identity Verification Solutions and TruContact™ Trusted Call Solutions are positioned to help thwart fraud attempts using stolen and synthetic identities.
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