POWERED BY MOMENTUM MEDIA
Early release super fraud detected
The Australian Taxation Office (ATO) has called in the Federal Police to investigate incidences of apparent fraud against the Government hardship superannuation early release scheme.
The ATO has denied, however, that its systems have been hacked.
“Measures designed to protect the integrity of the early access to superannuation scheme have helped detect a small amount of fraudulent activity associated with the program,” the ATO said in an official statement. “ATO systems were not hacked.”
According to reports, the AFP were investigating up to 150 potential victims.
“A small number of people appear to have had personal details unlawfully used in a bid to defraud the program. This has been stopped and the impacted individuals are being contacted,” the ATO said.
“The matter is currently under investigation by the AFP and for operational reasons we are unable to comment further at this stage."
Addressing the select committee today, ATO commissioner, Chris Jordan, said: “I would remind all Australians to be vigilant in keeping their personal information secure and private.
“While we know most Australians want to do the right thing, our robust compliance systems and partnerships with other agencies will allow us to quickly identify those intending to fraud the system.”
The early access to super scheme is eligible for people suffering financial hardship due to the COVID-19 pandemic.
Recommended for you
The central bank has served up a disappointment for punters on Melbourne Cup Day.
The superannuation industry will be judged by its member services rather than how effectively it accumulates wealth, according to Stephen Jones.
The profit-to-member super funds are officially operating as a merged entity, set to serve over half a million members.
Super Review announced 21 winners at the annual Super Fund of the Year Awards, including the recipient of the prestigious Fund of the Year Award.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Spire Oaktree Opportunities XI Second Close
61.07 3 y p.a(%)
2
Spire Oaktree Opportunities XI First Close USD
59.21 3 y p.a(%)
3
DomaCom Lot 21 Chellaston Road Munno Para West SA 5115 Australia
32.57 3 y p.a(%)
4
Fidante Credit Suisse Global Private Equity
32.09 3 y p.a(%)
5
DomaCom 4/27 Crombie Avenue Bundall QLD 4217 Australia
27.42 3 y p.a(%)
