Australian Parliament Approves Digital ID Bill
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The Australian federal administration has approved the Digital ID (Consequential and Transitional Provisions) Bill 2024 and the Digital ID Bill 2024
The legislation will develop a comprehensive digital identification system and enable providers and financial institutions to apply and become part of the Digital ID platform. The advantages of this structure are that it will provide a more secure and robust online environment for users.
The Australian Government Announced $288 Million To Enhance Digital Identity
The Bills will likewise urge Digital ID service suppliers to participate in the voluntary Accreditation program. This program aims to ensure adherence to the rules set by Australian authorities and maintain robust levels of authentication and security.
After receiving the Royal Assent, likely within the next couple of weeks, the legislation will be active by November 2024. In 2026, companies will be able to become part of the Government’s Digital Identification system.
Chief of Scheme and Product for Digital Identity at Australian Payments Plus, Rick Iversen, noted, “It’s encouraging to observe a dedication to achieving the advantages that a solid Digital Identity network will bring to the businesses and consumers in Australia.”
Recently, the Australian government revealed that it would give out $288 million to aid the growth and implementation of digital identity.
The 2024-2025 financing will be utilized to conduct tests with the private industry and enhance security, regulation, and infrastructure.
The Australian Taxation Office (ATO) will use most of the capital, US$103.3 million, to enhance the myGovID platform over two years. This improvement will enable users to safely enter government portals on behalf of a company utilizing a digital ID.
The myGovID platform will change its name and be renamed to myID to prevent misunderstandings with the myGov platform.
The Australian Treasury Will Establish Data Protocols For The Digital ID System
An additional US$15.5 million will be used to enhance the security measures of the myGovID and myGov platforms.
The Digital ID Bill is a strategy to “shift more incredible wealth into the control of the international predatory tycoons. It utilizes the Disinformation and Misinformation Bill, the Digital Identity Bill, the Identity Verification Services Act, and the Online Safety Act.
The bill aims to identify, capture, penalize, and detain any individual who opposes the return to serfdom and feudalistic conditions.
Another organization included in the financial plan is the Australian Security Intelligence Agency, which is tasked with conducting digital ID security evaluations. The Australian Treasury will establish data protocols for the digital ID system.
Services Australia will function as the system’s manager for the project. The entity will also enhance its identity exchange, allowing operations within the digital ID ecosystem while ensuring that personal details remain undisclosed.
