The ACIC is part of the Phoenix Taskforce, which was established in 2014. It includes 39 Commonwealth, state and territory government agencies, including the Australian Taxation Office (ATO), Australian Securities and Investments Commission and the Fair Work Ombudsman. The Phoenix Taskforce provides a whole-of-government approach to combatting illegal phoenix activity.
The Phoenix Taskforce has developed sophisticated data matching tools to identify, manage and monitor suspected illegal phoenix operators. It supports businesses who want to do the right thing and will deal firmly with those who choose to engage in illegal phoenix behaviour.
The Phoenix Taskforce takes action against phoenix operators by:
- working together to disrupt their business model and make it financially unviable
- removing their ability to operate
- applying financial penalties
- prosecuting the worst offenders.