The Internal Revenue Service flagged 2.1 million tax returns as potential identity theft last filing season. This paused processing and required additional identity checks before refunds could go out. Many victims faced long delays of up to two years just to resolve the issue and claim their refunds.
For high-net-worth individuals, the risk is amplified. Your financial footprint is broader, your personal information is easier to piece together, and your professional and family networks create multiple points of access. Public records, prior data breaches, and online profiles allow criminals to craft messages that feel familiar and credible, and can put far more than a tax refund at risk. It opens the door to identity theft, financial fraud, and long-term misuse of your personal data.
