The federal government hopes a new digital ID for company directors will minimise fraud and illegal activity.
Australian company directors will now be required to register a digital ID with the federal government through the myGovID app. The new government measure, called Director ID, is a unique 15-digit identifier that company directors will be required to set up as part of efforts by the federal government to minimise fraud and illegal activity. The initiative sits within the federal government’s digital business plan that was announced last year, which is aimed at streamlining how businesses interact with government. «Director ID will help to create a fairer business environment by improving data integrity, creating greater confidence in directors’ identities, and allowing earlier identification of director involvement in unlawful practices, such as illegal phoenix activity,» Minister for Superannuation, Financial Services and the Digital Economy Jane Hume said.
