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With a recent real example of an Australian Bookkeepers Network (ABN) member approached by an offshore fraudster, ABN Director, Peter Thorp, urges caution to protect bookkeeping business from disaster.
In last month’s edition of Bookkeepers Radio on Identity Theft, ABN Director Peter Thorp revealed a concerning attack on an ABN member from an offshore entity trying to use the member’s Online Services for Agent’s (OSFA) capability to file fraudulent BAS claims.
Peter warns ABN members to be extra vigilant of suspect approaches from potential clients the agent might not know personally. The implications of not doing so leave an agent vulnerable to business ruin, with the prospect of OSFA access being rescinded, among numerous regulatory actions taken.
“We’ve had recent enquiries where BAS Agents have been approached by an offshore bookkeeping business that doesn’t have a BAS Agent registration in Australia,” said Peter.
“The fraudster’s claim is they would like to add some Australian BAS Lodgment to their overall service offering and approach the Australian bookkeeper to request if they would like to attend to the BAS lodgment in return for a fee paid as a subcontractor.”
Peter acknowledges that this is not a relationship to enter lightly as part of the Tax Agent Services Code of Conduct and the ATO’s new Agent Client Linking function.
“It would take extreme system checks and controls in place to satisfy POI checking,” said Peter. “There needs to be proper engagement of clients based on ATO obligations, which is a significant process even when international engagement is legitimate.
“Probably overriding this is you need to be mindful of the TPB Tax Agent Services Code of Conduct obligations.
The requirement is that agents exercise supervision over the work being done and take ‘reasonable care’, which is a careful road you should walk.”
Raising the possibility that the offshore entity is not legitimate, Peter emphasises that the fraudster intends to try to get access to the agent’s OSFA system to lodge fraudulent returns.
“If they could become an authorised contact on your OSFA, you can see the possibilities for grief,” said Peter. “This includes giving the agent false information.”
“They’re possibly saying, ‘here are our first four BAS and ‘guess what’ they’re all refunds.”
Being part of the defrauding process opens up the agent to losing their license, and extra care is needed to prevent that.
“You want to be very careful of the overall process and systems,” said Peter. “If that’s not sending warning signals, I don’t know what is.”
To be at the forefront of bookkeeping industry news and advice from the top industry specialists, stay tuned to the monthly ABN Bookkeeper’s Radio, available to members.
