Fraudsters target people's tax file numbers

Fraudsters are targeting people's tax file numbers in an effort to steal their money and often their identity.The Australian Taxation Office (ATO) says in the 2009-10 financial year, it dealt with 8400 cases of compromised tax file numbers (TFN).

During (that) period, some 7000 TFNs were potentially impacted by identity crime.

Employment scams can appear as job ads, emails or noticeboards and exist only to get your personal information.

Unlike PINs and bank account numbers, people usually have the same tax file number their entire lives.

The ATO says anyone worried their TFN has been lost, stolen or misused should ring the ATO on 1800 060 062.

Have you been the target of a fraudsters? If so tell us your story. Read full article.

To keep up to date with Tax Laws, why not inquire about TimeBase's Point-in-Time Tax Service just one of a range of Australian Legislation services provided by TimeBase.