Business

Nov 3, 2008

Millions at risk in ATO security bungle

Millions of taxpayer dollars are at risk from criminal gangs accessing private tax details due to a serious Australian Taxation Office security bungle, writes Chris Seague.

Millions of taxpayer dollars are at risk from criminal gangs accessing private tax details due to a serious Australian Taxation Office security bungle.

Last Thursday the Commissioner of Taxation Michael D’Ascenzo issued a press release saying the tax office has written to 3,122 trustees of self managed super funds offering them a new tax file number (TFN) for their funds. Their details have gone missing due to a major security bungle involving a contracted courier.

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1 comments

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One thought on “Millions at risk in ATO security bungle

  1. Kevin Cox

    Although beefing up security is one to help solve the problem the other is make information more easily accessible to the owners of tax file numbers. For example this problem could be nipped in the bud if everytime my TFN was used I was notified that it had been used.

    If a person taking out an ABN along with the directors of companies had to be identified then we would know who it was. If people used stolen identities then the people whose identities had been stolen could be notified.

    That is, we should assume that identities will be stolen and help overcome the problem by making sure that everytime your identity was used you were notified independently of the transaction. This would make it much more difficult for criminals to get away with identity theft.

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