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last mo.

Treasury Committee Criticizes HMRC’s Late Disclosure of £49m Phishing Scam

HMRC has locked down 100,000 accounts in cooperation with the Treasury Committee’s investigation.

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Dame Meg Hillier complained that she only found out about the hack from press reports

Overview

  • The Treasury Committee demanded to know why HMRC failed to inform Parliament sooner about a breach that cost taxpayers £49 million.
  • HMRC revised its initial £47 million loss estimate to £49 million when it disclosed the phishing incident during a June 4 hearing.
  • Officials described the scam as an organised crime operation that began last year and affected around 100,000 tax accounts.
  • The Association of Chartered Certified Accountants said it was not told about the breach before the hearing and voiced frustration at HMRC’s communication delay.
  • Lawmakers have set a June 24 deadline for HMRC to provide a detailed timeline of events and outline new security measures to prevent future incidents.