Australia’s corporate watchdog has launched first-of-its-kind legal action against an unnamed company director for allegedly failing to sign up to the federal government’s compulsory director ID program.
The director, whose identity has been withheld by a Sydney court, is facing fines of up to $13,320 for non-compliance with the mandatory scheme that was introduced in December 2022.
Designed to crack down on illegal phoenix activity worth around $5 billion to the economy each year, the life-long ID scheme provides directors with a unique 15-digit identifier, requiring them to verify their identity with Australian Business Registry Services.
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