Proof of identity verifications requirements extended to Accountants
and Tax Agents.
To reduce the risk of tax and identity fraud the Tax Practitioners Board (TPB) recently announced that all Tax and BAS agents in Australia need to undertake proof of identity verifications for new clients. A strong verification process (also referred to as a 100-point check) provides confidence that we have the authority to act on our client’s behalf.
This is the next step towards stronger due diligence across the industry — driven by new Anti-Money Laundering legislation, as well as tighter industry standards by other professional bodies (such as CPA, ICAA, IPA – as well as the Tax Practitioners Board). Whilst only a recommendation currently, it is expected that undertaking and recording client verifications will become mandatory for Tax and BAS Agents in the latter half of 2022, and accordingly, HFB Group have made the decision to enact the identity verification policy as of 30 March 2022.
Accordingly, would you kindly provide us with:
- A colour photo of your driver’s licence, both front and back.
- And either a
- certified copy of your licence or
- a photo of you holding the licence/ID, showing your face.
Should you have any questions, please do not hesitate to give us a call on 07 3286 1322.
