HM Revenue & Customs has reported a substantial loss of £47 million as a result of a phishing scam that compromised roughly 100,000 tax accounts. Senior officials testified before a Treasury committee, clarifying that this incident involved organized crime targeting identity data outside HMRC's systems. While there are no reported financial losses to the impacted individuals, the investigation has resulted in arrests. HMRC maintains that this was not a cyber-attack; rather, it involved criminals using stolen identity data to illicitly access PAYE accounts, affecting only individual taxpayers, not companies.
The current loss of £47 million represents a serious incident of organized crime targeting taxpayer data, affecting around 100,000 individuals within the HMRC.
HMRC stressed that individuals would not suffer any financial loss, emphasizing that the breach did not originate from their systems or involve a cyber-attack.
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