HMRC issues warning to TikTok users as two arrested over suspected £153m tax scam
HM Revenue and Customs (HMRC) has issued a stern warning to TikTok users after suspected £153 million tax fraud was revealed.
The public is warned not to share tax details on the internet after discovery.
The scheme allegedly involved individuals posting ads on the popular social media platform and luring users with the promise of easy financial rewards.
In return, victims were reportedly asked to provide sensitive tax information, including business VAT registration details or personal self-assessment credentials. These details were then allegedly used to submit fraudulent tax refund claims to HMRC.
The warning came after two Romanian men, aged 22 and 25, were arrested by HMRC officers in east London on 23 April in connection with alleged fraud.
HMRC are now urging the public to be extremely careful about online posts offering ‘risk-free’ financial gains in exchange for sharing personal information.
The investigation into the alleged fraud is still ongoing, but HMRC fraud detection systems detected and blocked repayment claims totaling £153 million.
It is believed that numerous claims from various businesses that may have been employed by the two men were identified and stopped.
Simon Grunwell, head of cybercrime investigations at HMRC’s Fraud Investigation Service, said: “You should protect your personal tax details in the same way you protect your banking details.
“Demanding fast, risk-free cash in exchange for sharing your personal information is a scam. It aims to defraud you and taxpayers.
“Anyone who comes across adverts on social media or is approached in any way with promises of easy money through their tax credentials should think twice and report it to gov.uk.”
Victims who provide tax information risk having their identities stolen or their bank accounts frozen.
They may also have to pay the money back or even face prosecution, according to HMRC.
Two Romanian men allegedly involved in the TikTok fraud scheme were interviewed under caution and released on bail pending further investigation.
The individuals in question were arrested on suspicion of various crimes, including fraud by false representation, intentional unauthorized access and money laundering.
