Read More about fast-id page

Shufti globally launches webinr-icon - a new kind of identity solution!

Shufti globally launches - a new kind of identity solution!

Read more

Australia DTA Consults on Upcoming “Trusted Digital Identity Bill”

australia

The consultation will facilitate the Trusted Digital Identity Bill, making digital identity systems accessible to the private sector. 

Australia’s Digital Transformation Agency (DTA) has published a release paper to parliament, providing consultation on the planned introduction of new legislation, known as the  “Trusted Digital Identity Bill”. The legislation is expected in the second of this year. 

The bill will make it possible for non-governmental organizations to provide digital identification services in Australia for the very first time. 

At the moment, Australia’s digital ID system has been enabled through 75 government services, for the use of over 2.56 million Australians and over 1.27 million businesses. 

Last November, the DTA conducted its first round of public consultation, seeking stakeholder views, development plans, scope and content of the Trusted Digital Identity legislation. 

The DTA stated that the first round of consultation received a positive response, which called for the expansion of the scope of the digital identity system, and for stronger governmental efforts to be enclosed in the law. 

The current consultation makes up the second phase of DTA’s three-phased comprehensive consultation process. Phase 2 involves engaging with the public and the stakeholders to devise clear policies in the following key areas:

  • Structure of the legislation
  • Scope of the legislation and interoperability with other systems
  • Regulatory oversight of the system and TDIF (Trusted Digital Identity Framework) Accreditation system
  • Privacy and consumer safeguards
  • Trust mark
  • Liability and redress framework
  • Penalties and enforcement
  • Administration of charges for the digital identity system

The position paper, which is open for comment until 14 July, provides consultation to facilitate the development of the Trusted Digital Identity Bill, expanding Australia’s digital identity system and making it accessible to all the sectors of the economy. 

The bill will also allow entities using other digital identity systems to also apply for TDIF (Trusted Digital Identity Framework) accreditation.

Suggested Read: Australian Government Introduces $800 Million Budget for New Technology and Expands Digital Identity Checks

Related Posts

News

Deepfakes on TikTok raise new security concerns

Deepfakes have started showing up on the popular video app TikTok, owned by ByteDance, a Chinese ...

Deepfakes on TikTok raise new security concerns Explore More

News

Poker Machines Being Preyed by Criminals Amidst COVID-19 Pandemic

During the five months of lockdown due to the COVID-19 pandemic, there has been a growth of 305 U...

Poker Machines Being Preyed by Criminals Amidst COVID-19 Pandemic Explore More

News

Indian Brokers Under Investigation for Alleged Money Laundering and Identity Theft

Three of the most prominent brokers in the country have come under scrutiny from numerous regulat...

Indian Brokers Under Investigation for Alleged Money Laundering and Identity Theft Explore More

News

Data of Half-Million Chicago Students Exposed in a Ransomware Attack

The personal information of more than half a million Chicago students and the staff was accessed ...

Data of Half-Million Chicago Students Exposed in a Ransomware Attack Explore More

News

The Age Verification Software Market to Experience Tremendous Growth by 2025

The increasing number of scams in today’s virtual world needs a better verification system. Prote...

The Age Verification Software Market to Experience Tremendous Growth by 2025 Explore More

News

Gibraltar financial watchdog issues warnings for four crypto sites

The Gibraltar Financial Services Commission, or GFSC, on June 5th, issued four public warnings to...

Gibraltar financial watchdog issues warnings for four crypto sites Explore More

News

Abu Dhabi Regulatory Authority Fines Pyypl $486,000 for Violating Money Laundering Laws

Abu Dhabi Global Market (ADGM) financial regulatory authority fined $486,000 to digital UAE bank ...

Abu Dhabi Regulatory Authority Fines Pyypl $486,000 for Violating Money Laundering Laws Explore More

News

US Crypto Firms Reluctant Towards New KYC/AML Proposal by FinCEN

The US crypto firm, Coinbase, sent a letter to FinCEN with a clear message, “There is no emergenc...

US Crypto Firms Reluctant Towards New KYC/AML Proposal by FinCEN Explore More

News

COVID Vaccine Certificate Fraud Leads to Suspension of GGD Employees

A 20-year-old man arrested for being a part of Covid-19 certificate fraud. Many GGD employees are...

COVID Vaccine Certificate Fraud Leads to Suspension of GGD Employees Explore More

News

Drug Trade Proceeds Laundered Through Digital Currency ATMs, Says DEA

According to the U.S Drug Enforcement Administration’s report, digital currency ATMs are growingl...

Drug Trade Proceeds Laundered Through Digital Currency ATMs, Says DEA Explore More

News

UAE Strengthens AML Measures to Bolster Virtual Asset Framework

The UAE’s anti-money laundering and counter-terrorism financing department stated it continues bo...

UAE Strengthens AML Measures to Bolster Virtual Asset Framework Explore More

News

Canada’s Real Estate a Safe Haven for Money Laundering, Confirms Intel

Intel has confirmed the findings of CISC’s report saying that Canadian real estate is a safe have...

Canada’s Real Estate a Safe Haven for Money Laundering, Confirms Intel Explore More

News

California university pays a million-dollar crypto ransom

As per reports, the University of California reportedly paid a huge ransom of $1.14 million in cr...

California university pays a million-dollar crypto ransom Explore More

News

IMF Seeks Tighter Checks on Kenyan Banks Amid Money Laundering Concerns

The International Monetary Fund (IMF) is tightening the checks to prevent money laundering and wa...

IMF Seeks Tighter Checks on Kenyan Banks Amid Money Laundering Concerns Explore More

News

Financial Regulators in China Ban Bitcoin Trading for Financial Security

China imposed a fresh ban on the cryptocurrency sector making the price of bitcoin fall below $34...

Financial Regulators in China Ban Bitcoin Trading for Financial Security Explore More

News

Kenya Accuses Two Leading African FinTech Firms of Operating Without Licenses

Two of Africa’s top FinTech companies have been accused by the Kenyan central bank of alleg...

Kenya Accuses Two Leading African FinTech Firms of Operating Without Licenses Explore More

News

Labor Party Victim of a Second Cyber-Attack

Britain’s Labour Party has informed that it had been a victim of a large-scale cyberattack on its...

Labor Party Victim of a Second Cyber-Attack Explore More

News

NGO Coalition Files a Complaint Against French Banks for Money Laundering Linked to Amazon Deforestation

The Non-Governmental Organisations (NGOs) have filed complaints against French banks BNP Paribas,...

NGO Coalition Files a Complaint Against French Banks for Money Laundering Linked to Amazon Deforestation Explore More

News

ACRA Cancels Registration of Company for AML/CFT Failures

The Accounting and Corporate Regulatory Authority (ACRA) has revoked the registration of a compan...

ACRA Cancels Registration of Company for AML/CFT Failures Explore More

News

FinCEN Extends the Comment Period of Virtual Currency Regulations

FinCEN– Financial Crimes Enforcement has finally agreed to reopen the comment period of reg...

FinCEN Extends the Comment Period of Virtual Currency Regulations Explore More

News

The UK Introduces New Bill to Combat Identity Fraud and Financial Crime

The UK government has launched a bill to prevent the flow of dirty money through its economy by c...

The UK Introduces New Bill to Combat Identity Fraud and Financial Crime Explore More

News

US Senator Joe Manchin Introduces Digital Asset Anti-Money Laundering Act to Curb Unauthorised Crypto Flow

US Senator Joe Manchin, along with Senators Roger Marshall, Lindsy Graham, and Elizabeth Warren, ...

US Senator Joe Manchin Introduces Digital Asset Anti-Money Laundering Act to Curb Unauthorised Crypto Flow Explore More

News

Canada Broadens Scope of Anti-Money Laundering and Terrorist Financing Rules

After Prime Minister Justin Trudeau invoked the Emergencies Act on Monday, 14th February, the Dep...

Canada Broadens Scope of Anti-Money Laundering and Terrorist Financing Rules Explore More

News

Federal Court Fines Digitex Futures $15M for KYC and AML Failings

The Commodity Futures Trading Commission (CFTC) has made it public that the US District Court has...

Federal Court Fines Digitex Futures $15M for KYC and AML Failings Explore More

News

Uganda at Risk of Getting Blacklisted by FATF Unless it Addresses 16 Issues

Uganda is facing the risk of being added to a global blacklist for money laundering and terrorism...

Uganda at Risk of Getting Blacklisted by FATF Unless it Addresses 16 Issues Explore More

News

CBA Fails to Disclose AML Non-Compliance to Investors, A Court Hears

A court has heard that the CBA should have informed the market that it may have engaged in “law-b...

CBA Fails to Disclose AML Non-Compliance to Investors, A Court Hears Explore More

News

Australia Risks Damage To Economy Unless Money Laundering Laws are Improved

A Senate committee says that Australia is at risk of damaging its economy if money laundering law...

Australia Risks Damage To Economy Unless Money Laundering Laws are Improved Explore More

News

Over £1 Million Lost to Covid Business Support Fraud in Leeds

Leeds City Council papers have shown 74 cases of Covid business support fraud where more than £1 ...

Over £1 Million Lost to Covid Business Support Fraud in Leeds Explore More

News

UAE Making ‘Strong Progress’ in Efforts to Prevent Financial Crimes

The Minister of Foreign Affairs said that the UAE is making “strong progress” to prevent illicit ...

UAE Making ‘Strong Progress’ in Efforts to Prevent Financial Crimes Explore More

News

SEC Enforces Srilankan Compliance Officers To Conduct Adequate AML Measures

The Security Exchange Commission of Sri Lanka (SECS) and Colombo Stock Exchange (CSE) recently ar...

SEC Enforces Srilankan Compliance Officers To Conduct Adequate AML Measures Explore More

News

2021 to Set New Record for Most Data Breaches in a Year

Studies have shown a staggering 1,291 data breaches till the end of September this year, exceedin...

2021 to Set New Record for Most Data Breaches in a Year Explore More

News

Hong Kong Legislators Invite Coinbase to the Region Despite SEC Concerns

Coinbase and other crypto exchanges have been invited to establish operations in Hong Kong; the r...

Hong Kong Legislators Invite Coinbase to the Region Despite SEC Concerns Explore More

News

Philippine Gaming Watchdog to Make Every Effort to Remove From FATF’s Gray List

The Philippine Amusement and Gaming Corporation (PAGCOR) has stated that it will make every effor...

Philippine Gaming Watchdog to Make Every Effort to Remove From FATF’s Gray List Explore More

News

FCA Declares £147m Fine on Credit Suisse for Due Diligence Failings

Credit Suisse was fined £147,190,200 for breaching FCA’s Principle 2 and 3 for Businesses as it f...

FCA Declares £147m Fine on Credit Suisse for Due Diligence Failings Explore More

News

EU Parliament Committee Backs MiCA Deal to Effectively Manage Crypto

The MiCA deal has been approved by the economic committee of the EU Parliament. The committee has...

EU Parliament Committee Backs MiCA Deal to Effectively Manage Crypto Explore More

News

Singaporean Banks Enhance Security to Combat Financial Crime

The Monetary Authority of Singapore (MAS) stated that the country’s banks are enhancing security ...

Singaporean Banks Enhance Security to Combat Financial Crime Explore More

News

Police busted a massive £215m money laundering ring in the Northern Ireland

PSNI police arrested 7 individuals following one of the biggest money-laundering investigations i...

Police busted a massive £215m money laundering ring in the Northern Ireland Explore More

News

India to Impose $2.65M Fine and Jail for Violating Cryptocurrency Bill

India’s financial watchdog has proposed a new crypto bill to impose a $2.65M fine and jail for vi...

India to Impose $2.65M Fine and Jail for Violating Cryptocurrency Bill Explore More

News

President of Argentina Open to CBDC Adoption but Central Bank Says No

Alberto Fernandez, President of Argentina showed openness to adoption of Bitcoin and Central Bank...

President of Argentina Open to CBDC Adoption but Central Bank Says No Explore More

News

Australian Bank, Westpac, Accused of 23 Million Money Laundering Breaches

Australia’s financial intelligence agency, The Australian Transaction Reports and Analysis Centre...

Australian Bank, Westpac, Accused of 23 Million Money Laundering Breaches Explore More

News

UAE startup relies on Blockchain to flatten COVID-19 curve

In5, UAE based start-up incubator, is assisting to design blockchain-based techniques to suppress...

UAE startup relies on Blockchain to flatten COVID-19 curve Explore More

News

Chinese Police Seize $124M Money Laundering Scam in Zunyi City

The money laundering gang was able to conceal its fraudulent activities for a while by using 500 ...

Chinese Police Seize $124M Money Laundering Scam in Zunyi City Explore More

News

International Student Sues Commonwealth Bank for Money Laundering Scam

An Indonesian student and her family sued the Commonwealth Bank as they lost millions of dollars ...

International Student Sues Commonwealth Bank for Money Laundering Scam Explore More

News

Transnational Organised Crime at Peak in Latin America through Cryptocurrencies

Transnational criminal organisations that have moved billions of dollars across Latin America are...

Transnational Organised Crime at Peak in Latin America through Cryptocurrencies Explore More

News

Libra taps another former FinCEN official as general counsel

Robert Werner, former director of FinCEN and OFAC regulatory authorities, has recently joined the...

Libra taps another former FinCEN official as general counsel Explore More

News

Satabank Penalized with €851,000 for Non-Compliance

Financial Intelligence Analysis Unit (FIAU) on Statabank has decided to fine the bank the sum of ...

Satabank Penalized with €851,000 for Non-Compliance Explore More

News

COVID-19 has Made Cybercrime More Structured

During the COVID-19 pandemic, there has been immense growth in the opportunities for cyber-relate...

COVID-19 has Made Cybercrime More Structured Explore More

News

Financial Watchdogs in South Korea Add Guidelines for Crypto Transactions

Financial Watchdogs in South Korea will now oversee the activities regarding crypto in the countr...

Financial Watchdogs in South Korea Add Guidelines for Crypto Transactions Explore More

News

UAE startup relies on Blockchain to flatten COVID-19 curve

In5, UAE based start-up incubator, is assisting to design blockchain-based techniques to suppress...

UAE startup relies on Blockchain to flatten COVID-19 curve Explore More

News

FATF Calls for Tighter Regulations to Fill Voids in Virtual Asset Compliance

The Financial Action Task Force (FATF) highlighted a regulatory gap in the compliance system for ...

FATF Calls for Tighter Regulations to Fill Voids in Virtual Asset Compliance Explore More

News

Rapstar Captured for His Role in Wire Fraud Scheme

A famous rapper from Chicago with his crew members was caught and charged in court for using the ...

Rapstar Captured for His Role in Wire Fraud Scheme Explore More

News

New Zealand Encounters Spike in Online Identity Theft

Recent research of New Zealand’s financial market has shown a spike of 86 percent in identity fra...

New Zealand Encounters Spike in Online Identity Theft Explore More

News

China Extends the Regulatory Crackdown to the Fintech Giants

The financial watchdogs in China are rolling out new legislative measures to restrict the finance...

China Extends the Regulatory Crackdown to the Fintech Giants Explore More

News

London has been Dubbed as a Money Laundering Base

The UK’s capital has been dubbed as a potential hotbed for organised crime, especially after Brex...

London has been Dubbed as a Money Laundering Base Explore More

News

U.K Accelerates New Plans to Crack Down on Foreign Money Laundering Activities

The U.K plans to crack down on money laundering activities, legislate new laws to register foreig...

U.K Accelerates New Plans to Crack Down on Foreign Money Laundering Activities Explore More

News

UAE Receives Observer Status at APG For Money Laundering

UAE becomes the first Arab country receive an observer status at the Asia/Pacific Group of Money ...

UAE Receives Observer Status at APG For Money Laundering Explore More

News

FCA Says Bankman-Fried FTX Cryptocurrency Exchange Not Regulated in the UK

FCA warned crypto exchange FTX due to their unauthorized operations. The financial regulator clea...

FCA Says Bankman-Fried FTX Cryptocurrency Exchange Not Regulated in the UK Explore More

News

Singapore to Strengthen Security Measures Against Phishing Scams

Singapore is taking steps to introduce additional security measures to detect suspicious transact...

Singapore to Strengthen Security Measures Against Phishing Scams Explore More

News

Malta-based Pilatus Bank Fined €5m Over AML & Terrorism Breaches

Pilatus Bank failed on various accounts, including identity verification of customer businesses, ...

Malta-based Pilatus Bank Fined €5m Over AML & Terrorism Breaches Explore More

News

UBS to Restrict Credit Suisse Bankers After Takeover

The bankers of Credit Suisse (CSGN.S) will be subjected to tighter regulations introduced by UBS ...

UBS to Restrict Credit Suisse Bankers After Takeover Explore More

News

US Senators Urge CISA to Incorporate Rules for Ransomware Reporting

US senators have urged the CISA to enforce new ransomware reporting rules amid a sharp increase i...

US Senators Urge CISA to Incorporate Rules for Ransomware Reporting Explore More

News

Alfa-Bank to Offer Blockchain-Based Services for the Self-Employed People and Freelancers

Alfa-Bank is one of the largest private commercial banks in Russia which is exploring blockchain-...

Alfa-Bank to Offer Blockchain-Based Services for the Self-Employed People and Freelancers Explore More

News

EBA Issues Guidance on the Roles of AML/CFT Compliance Officers

The European Banking Authority has published guidelines that state the roles of Anti-money launde...

EBA Issues Guidance on the Roles of AML/CFT Compliance Officers Explore More

News

Philippines Directs Efforts & Demonstrates Progress in Resolving AML Concerns

The Asia Pacific Group on Money Laundering (APG) has raised the Philippines’ rating from pa...

Philippines Directs Efforts & Demonstrates Progress in Resolving AML Concerns Explore More

News

FATF Claims Golden Visa Programs Raise Financial Crimes Activities

The international regulatory body, Financial Action Task Force (FATF), reported that Citizenship ...

FATF Claims Golden Visa Programs Raise Financial Crimes Activities Explore More

News

SataBank is Set to be Formally Liquidated Over Money Laundering Concerns

The liquidation of Satabank has affected prominent names with a massive due amount. The infirm se...

SataBank is Set to be Formally Liquidated Over Money Laundering Concerns Explore More

News

Turkey to Face FATF’s Gray List Over Inadequate AML Practices

FATF is set to grey list Turkey over AML shortcomings, a move that is likely to affect the countr...

Turkey to Face FATF’s Gray List Over Inadequate AML Practices Explore More

News

Law firm Clyde & Co. fined $635K for Breaching UK Money Laundering Laws

Global law firm Clyde & Co. was fined £500,000 ($635,613) on 11 January for multiple breaches...

Law firm Clyde & Co. fined $635K for Breaching UK Money Laundering Laws Explore More

News

Buy Now Pay Later Service Openpay Warned for AML Violations

Te Tari Taiwhenua, the Department of Internal Affairs, has issued a warning to an Australian Buy ...

Buy Now Pay Later Service Openpay Warned for AML Violations Explore More

News

US DOJ Files Cases to Stop Russian Money Laundering Networks

The US DOJ (Department of Justice) filed two cases in the latest action to disrupt money launderi...

US DOJ Files Cases to Stop Russian Money Laundering Networks Explore More

News

Cryptocurrencies Need Regulation to Prevent Money Laundering, Says Singapore Minister

A panel of regulators and bankers at the World Economic Forum stated that cryptocurrency need to ...

Cryptocurrencies Need Regulation to Prevent Money Laundering, Says Singapore Minister Explore More

News

Data Security at Risk Due to the Fake Lending Apps

Gained network access, pictures, and contact information are at threat due to the fake lending ap...

Data Security at Risk Due to the Fake Lending Apps Explore More

Take the next steps to better security.

Contact us

Get in touch with our experts. We'll help you find the perfect solution for your compliance and security needs.

Contact us

Request demo

Get free access to our platform and try our products today.

Get started