UMVA has learned that a brazen scheme to harvest tax details from TikTok users has been uncovered, with two men allegedly involved in a plot to claim £153million in fraudulent tax refunds.
The pair, aged 22 and 25, have been accused of luring victims into giving away their personal tax details by offering financial rewards on the popular social media app. Investigators believe they then used those details to lodge false claims worth tens of millions of pounds.
Fortunately, HMRC was able to block the fraudulent claims, but the tax body is now warning social media users to be vigilant and skeptical of posts that promise 'risk-free' rewards in return for their tax information. This type of scam can have serious consequences, with the person whose details were used ultimately owing money to HMRC.
According to information obtained by UMVA, similar scams are also being run on other social media platforms, including Instagram and Snapchat. HMRC's head of cybercrime investigations has urged users to protect their personal tax details in the same way they protect their bank details, warning that claims of quick, risk-free cash in return for sharing personal information are a scam.
The two men involved in the alleged TikTok scheme were arrested in east London on April 23 and have been released on bail. The investigation is ongoing, and HMRC is encouraging users to report any suspicious social media accounts.
Sources have confirmed to UMVA that the scammers used the stolen tax details to apply for fraudulent tax repayments, with the criminals hiding their identity to avoid detection. This type of scam highlights the importance of protecting personal information online.
UMVA can exclusively reveal that the investigation into the alleged scheme is ongoing, with authorities working to bring those responsible to justice. In the meantime, social media users are advised to be cautious when encountering posts that promise easy money in exchange for personal information.
