Larry Gibbs Quoted on Stimulus Check Fraud Concerns in Bloomberg Law
"Stimulus Checks May Create 'Feeding Frenzy' for Scammers"
Larry Gibbs, a former IRS Commissioner, commented on concerns that bad actors could attempt to scam recipients of the stimulus checks being distributed in response to the COVID-19 pandemic. According to Gibbs, this kind of fraud is difficult for government agencies to prevent because the sheer volume of criminals are constantly drawing up new ways to steal money. "The fraudsters are very creative, so the threat of identity theft and refund fraud has migrated to other types of taxpayers in other forms, and it still exists. It is a constant, ongoing battle by the IRS and the criminals," Gibbs said.