The UK’s HMRC reported a loss of £47 million due to fraud, linked to unauthorized access of PAYE accounts. Approximately 100,000 individuals were informed, but reassured that they incurred no financial loss. Access was gained through genuine credentials acquired via phishing or other means, leading to fraudulent claims against HMRC. The investigation concluded with several arrests; however, many affected individuals may remain unaware of the fraud as their engagement with online tax accounts is generally low. HMRC emphasizes that this loss is relatively small from the taxpayer's perspective.
HMRC has confirmed that late last year, cyber criminals defrauded it of £47 million through unauthorized access to PAYE accounts, though this wasn't classified as a cyberattack.
The vast majority of the affected individuals were unaware of account access due to the nature of PAYE, emphasizing the low engagement most have with their online tax records.
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