Educational Scenario: This is a fictional case study created for educational purposes. Business details are not real, but the attack methods and impacts represent documented cybersecurity threats.
CPA Firm Tax Season Data Breach
During tax season, criminals spoofed a CPA firm's emails to harvest client tax documents and financial information.
Campaign Begins
February 15, 2024Criminals begin sending emails to the firm's clients requesting 'additional tax documents' for their 2023 returns
Scale Increases
March 1, 2024Attack scales up during peak tax season, with hundreds of spoofed emails sent weekly
Client Complaints
March 20, 2024Clients begin calling about suspicious emails requesting W-2s and bank statements
Breach Discovery
April 2, 2024Firm discovers 85 clients had provided sensitive tax documents to criminals
Full Impact
April 15, 2024Investigation reveals criminals filed fraudulent tax returns for 23 clients using stolen information
Potential Impact Analysis
$95,000 in notification costs, credit monitoring, legal fees, and IRS penalties
6-week disruption during peak tax season, manual verification of all client communications
Lost 30% of client base, negative CPA community publicity, referral network damage
State board investigation, client lawsuits, IRS scrutiny of all filings
Attack Method
Sophisticated email spoofing campaign timed to coincide with tax document requests
Common Vulnerabilities
- No email domain authentication
- Clients accustomed to email requests for documents
- No secure client portal for document sharing
- Generic email templates easy to replicate
Types of Data at Risk
- Social Security numbers
- W-2 and 1099 forms
- Bank account information
- Previous year tax returns
- Business financial statements
- Tax season creates perfect cover for credential harvesting
- Clients trust familiar communication patterns
- Secure document portals are essential for sensitive data
- Timing of attacks often coincides with business cycles
- Implement SPF and DMARC before tax season
- Use secure client portals for all document requests
- Never request sensitive documents via email
- Client education about secure communication methods
- Multi-factor authentication for all systems
The firm lost 30% of its clients and had to hire additional staff to handle the regulatory requirements. They now use only secure client portals for document sharing and have implemented strict email security measures. The managing partner retired early due to the stress of the incident.
Protect Your Business from These Threats
This scenario shows how these attacks can be prevented with proper email security measures. Get a free scan to see if your business is vulnerable.