As highlighted in our November 2021 article New Requirement for Directors to Register for a Director Identification Number, company directors are required by law to apply for a director identification number.

A director ID is a unique identifier that directors apply for once and keep forever. ASIC suggests that the implementation of the director ID system will help prevent the use of false or fraudulent director identities.  All directors of companies, registered Australian bodies, registered foreign companies or Aboriginal and Torres Strait Islander corporations will need director ID’s.

Unfortunately, on 28 October 2022 ASIC published an Alert warning that scammers are pretending to be ASIC, and are approaching Registry customers via email.

In a recent article, Holman Webb highlighted the importance of the Essential Eight mitigation strategies recommended by the Australian Cyber Security Centre (ACSC) which, if implemented, minimises the chance of an organisation falling victim to a cyber-attack.

With this in mind, we thought it timely to remind readers of the importance of staff training and cyber-security vigilance.

Recent reports that former NRL player Benny Elias was scammed out of $860,000 when hackers impersonated his lawyer during a property transaction come as an important reminder to be extra careful when transferring money online.