The ATO will acquire relevant account and transaction data from the Australian Financial Crimes Exchange (‘AFCX’) for the 2025 to 2027 income years, including the following:
- Client identification details (names, addresses, phone numbers, dates of birth, identity verification document details, IP addresses, etc); and
- Bank account transaction details (bank account details, transaction date and amount, IP addresses, etc).
The ATO estimates that records relating to approximately 70,000 individuals will be obtained each financial year.
The data collected under this program will be used to (among other things) safeguard taxpayer accounts from identity crime by implementing protective controls to enable pre-lodgment detection and application of treatments to victims of fraud.
