Technology

Statement – The Canada Revenue Agency (CRA) has zero tolerance for fraud

Published

2 weeks ago

November 6, 2024

OTTAWA, ON, Nov. 6, 2024 /CNW/ – Whether it be a threat from external bad actors, or taxpayers willfully submitting fraudulent returns, the CRA is standing on guard.

Protecting taxpayer accounts

In today’s increasingly digital world, safeguarding sensitive information against constantly evolving threats is critical for every organization, including the CRA. The protection of taxpayer information remains one of our highest priorities. Recognizing that even with our robust security controls, we, like many large organizations, are not immune to privacy breaches, and we recognize the worry and frustration this can cause for those affected.

The CRA has a wide array of security measures to protect the personal information of Canadians, and to shutdown would-be fraudsters. That said, bad actors are continually evolving their tactics and so we must be vigilant in adapting to stay one step ahead.

In fact, since 2020, the CRA has implemented numerous security measures, technologies, processes and controls to ensure the security of taxpayer information including multi-factor authentication throughout CRA login services, and proactively revoking user IDs and passwords that may have been obtained by unauthorized third parties through external sources.

We have been successful in protecting hundreds of thousands of fraudulent attempts to gain access to personal and business taxpayer accounts.

When we suspect an account is the target of an external threat actor, we take swift and immediate precautionary measures on the taxpayer’s account such as locking it to prevent transactions, conducting in–depth reviews, and contacting the individuals. The CRA formally notifies the affected individuals and provides credit protection, where warranted, at no cost to them.

Taxpayers who are confirmed victims of identity theft are not held responsible for any money paid out to scammers nor penalties or interest related to fraudulent claims.

The CRA has processes in place to report all material privacy breaches to Treasury Board of Canada Secretariat (TBS) and the Office of the Privacy Commissioner of Canada (OPC).

The CRA is prevented from commenting on taxpayer information obtained from compromised third parties, due to privacy protections found in the Income Tax Act.

Fraudulent tax returns

The vast majority of Canadians are honest, law abiding taxpayers. As such, Canada’s tax system is based on voluntary compliance and self-assessment. Individual taxpayers are responsible for ensuring the information they report on their tax returns is accurate.

Unfortunately, there are those few who believe they are above the rules of society. For that reason, the CRA has strong safeguards in place to catch this small percentage of fraudsters who willfully submit false claims in order to steal funds from the collective purse. Safeguards include automated and manual checks, as well as cooperation with financial institutions, to flag suspicious returns and participants in illegal tax schemes before funds are distributed.

The CRA does not publicly discuss tax schemes utilized by bad actors, to avoid inspiring other would-be fraudsters from following suit.

Taxpayers who claim false expenses, credits or rebates from the government are subject to serious consequences. They are liable not only for corrections to their tax returns and payment of the full amount of tax owing, but also to penalties and interest. They may also face criminal prosecution.

In rare cases where fraudulent funds are paid out, we take every available enforcement action to return the funds to the Crown and hold the offending parties accountable. This includes criminal investigations that could be referred to the RCMP.

Once convicted, tax evaders can face penalties, court fines, and jail time — in addition to having to pay the taxes they tried to evade, plus interest. High-profile enforcement actions are publicized through enforcement notifications.

Contacts

Media Relations
Canada Revenue Agency
613-948-8366
cra-arc.media@cra-arc.gc.ca

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SOURCE Canada Revenue Agency

Technology

Oberon Securities Advises Keens Steakhouse in Sale Transaction

Published

2 hours ago

November 23, 2024

Oberon Securities acted as exclusive advisor to Keens Steakhouse in the sale transaction.

NEW YORK, Nov. 23, 2024 /PRNewswire-PRWeb/ — Oberon Securities, a New York-based middle market investment banking firm, acted as exclusive advisor to Keens Steakhouse in the sale transaction announced yesterday.

With more than 70 senior bankers serving businesses across the country and around the world, Oberon is one of the fastest growing New York City based middle-market investment banking firms. Its clients benefit from the market credibility associated with the firm’s longstanding relationships with many of the nation’s largest and most prestigious institutional investors. Oberon’s approach has generated numerous long-term, multi-transaction client engagements and attracted investment bankers who have spent their careers working with middle-market companies.

Media Contact

Steven Alschuler, Oberon Securities, 1 917-647-2151, steve@alschulerpr.com, https://oberonsecurities.com/

View original content to download multimedia:https://www.prweb.com/releases/oberon-securities-advises-keens-steakhouse-in-sale-transaction-302314708.html

SOURCE Oberon Securities; Oberon Securities

Technology

Specified Technologies Inc. Unveils Firestop Clash Management and Locator Updates

Published

5 hours ago

November 23, 2024

SOMERVILLE, N.J., Nov. 23, 2024 /PRNewswire/ — Specified Technologies Inc. has announced their latest Firestop Clash Management (FCM) and Firestop Locator (FSL) releases. FCM automates the process of locating and assigning firestop solutions to conditions within Autodesk® Revit®, enabling firestop novices to find firestop solutions like a firestop expert. In this latest release, STI has further expanded the capabilities of FCM by integrating it with their firestop documentation and compliance tool, Firestop Locator (FSL). FSL enables contractors and facilities’ teams to document the status, location, and products used for any and all fire life safety services across a building.

In the latest update for FSL, teams can now create custom items to track any service on their project beyond the base six (Penetration, Joint, Extinguisher, Door, Damper, and Barrier). Teams can also modify the base six items to include project specific inspection and maintenance requirements and any other details that they would like to be tracked.

With this new integration, decisions made during the design phase of a building using FCM are seamlessly passed into FSL during the construction phase, giving implementation teams a jump start on work to be done. This integration also improves data integrity and eliminates the guesswork in the field of determining what firestop systems and products are to be used where.

“We’re proud of the latest releases of FCM and FSL and look forward to continuing to support the fire life safety community,” says Justin Pine, Sr. Manager of Software & Services.

Specified Technologies Inc. promotes life and building safety by developing innovative fire protection systems and accompanying digital tools that help stop the spread of fire, smoke, and hot gases. Our SpecSeal® and EZ Path® product lines are engineered for easy installation and deliver powerful performance, often resulting in lower installed costs. Since firestopping is our only business, we concentrate all our resources on providing the highest quality, fully tested, innovative firestopping solutions.

Contact: Jess Bern; jbern@stifirestop.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/specified-technologies-inc-unveils-firestop-clash-management-and-locator-updates-302314629.html

SOURCE Specified Technologies, Inc.

Technology

ZICC: Internet Experts Pay Attention to the Development of Artificial Intelligence

Published

6 hours ago

November 23, 2024

BEIJING, Nov. 23, 2024 /CNW/ — During the Wuzhen Summit of the World Internet Conference, ZICC interviewed Internet experts from all over the world.

Lampros Sterg, UNESCO Chair in AI & Data Science, said that AI can accelerate social progress, but it needs to be used properly to avoid its negative effects in order to benefit citizens and society. Latif Ladid, the president of the IPv6 Forum, called for the establishment of a global governance system to allow artificial intelligence technology to serve humanity for good. South Korean computer scientist Kilnam Chon shared insights on AI’s positive role in healthcare. He urged global efforts to ensure AI safety and prevent its misuse in weapons. Indian entrepreneur Bibin Babu said he believes that AI will not replace humans, but will create more new jobs.

View original content to download multimedia:https://www.prnewswire.com/news-releases/zicc-internet-experts-pay-attention-to-the-development-of-artificial-intelligence-302314745.html

SOURCE ZICC