The 56,000 people in the GST fraud promoted by TikTok only had to fill in three numbers. The consequences could last for life.
Financial Review
agreed the rate of the fraud had reduced. But they said it was still going on, often with smaller claims to avoid ATO scrutiny. The question is, what does it mean to be contained?The ATO first flagged the fraud in May last year when it announced Operation Protego was investigating $850 million in suspected fraudulent GST payments.
Others were less sanguine. One Sydney accountant said the more than 50,000 people taking part of the fraud was well beyond the ATO’s capacity: “Their policing, a lot is puffery. They manage risk and this was a new and emerging risk they didn’t account for – it was a function of the speed and spread on social media.Difficult conversations
Through the 2022-23 year, a steady stream of people were still being caught by the ATO for new offences. By June this year, the liabilities had blown out by another $700 million, with another $1 billion in claims stopped.Amidst the wave of fraud, the Australian Federal Police became aware alleged members of outlaw motorcycle gangs who were taking advantage of a simple way rip off taxpayers via the TikTok fraud.
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