Is "FRANCHISE TAX BO PAYMENTS KUYK" fraud?

Written by Aiden Lee

June 18th, 2024

Medium Risk

What is "FRANCHISE TAX BO PAYMENTS KUYK"?

The Franchise Tax Board (FTB) of California has been in operation since 1950. It is a government entity responsible for the administration of personal income taxes and corporate taxes for the state of California. The FTB does not sell retail products; instead, it provides various tax-related services, including tax return processing, tax collection, and taxpayer assistance. Additionally, the FTB is involved in non-tax programs such as vehicle registration collection and court-ordered debt collections.

FRANCHISE: Type of entity or transaction involved

TAX: Nature of the transaction (Tax-related)

BO: Beneficiary or organization involved (could be "Board of")

PAYMENTS: Type of activity (Payment made)

KUYK: Possibly an internal or recipient-specific reference code

Verify if this transaction is fraud in 30 seconds

Verify With Receipt

The best way to tell if this charge is fraudulent is to find the receipt. You may have an electronic copy of the receipt, which you can finding by searching in your email accounts for.

Or, if you want to automatically find and reconcile receipts so you never worry about fraud, you can use SimplyWise to automatically match all bank and credit card transactions to email and paper receipts. The app instantly reconciles your expenses and flags anything that doesn't match.

STEP 1

Connect your Email

Download the SimplyWise app and connect your email account. SimplyWise will search through your emails and find all the receipts in your inbox. This allows you to understand what exactly you are paying for when you see a bank transaction on your statement.

STEP 2

Connect Your Bank

Connect to your bank account/credit card transactions through the secure (256 bit encryption) Reconciliation feature within the app.

STEP 3

Reconcile

Reconcile the charges reported by your financial institution against what you've recorded in your SimplyWise account. Find fraud quickly! SimplyWise will match your transactions to your bank/credit card spending and check those items off.