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9. Identity fraud: When AI attacks
Public practitioners are legally required to verify client identities and assess the risk of doing business with them under rules from the Australian Taxation Office and Tax Practitioners Board. The problem is that new risks are emerging as AI‑driven identity theft becomes more common.
This article outlines the steps businesses can take to reduce the risk of fraud, including educating employees, strengthening verification processes (such as secure transmission methods or third‑party identity services), maintaining unique client credentials and more.
