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Unsolicited emails, texts, phone calls - even snail mail - could see your identity hijacked by Peter Ryan

Millions of dollars stolen in tax refund fraud as scammers hijack identities. Inspector-General of Taxation Karen Payne says the "infiltration" rattles confidence in tax system. The ATO says its systems controls are "strong".

The inspector General of Taxation Karen Payne is investigating the theft and hijacking of personal information that's allowed professional scammers to fraudulently claim millions of dollars in tax refunds. A spokesperson for the Australian Taxation Office says they're aware of the Inspector-General's investigation and that the ATO has sophisticated processes across its systems to detect fraud. Rep...

Australia's unemployment rate has increased to 3.9 per cent despite the creation of more than 60,000 jobs last month, as the participation rate surged to a fresh record high. Also, Australian shares rally after US Federal Reserve chair signaled interest rates have probably peaked and economists pencilled in rate cuts in late 2024. Reporter: Peter Ryan, Senior Business Correspondent Featured: Jerom...

There's been a surge of confidence on Wall Street this morning after the US Federal Reserve signalled its aggressive interest rate hiking strategy is probably over. The big question now is when the Fed might start cutting interest rates now that it seems more comfortable that inflation in the US is now steadily slowing. Also I speak with Pradeep Philip, head of Deloitte Access Economics - who appl...

Responsible economic management, narrowing deficits and more tax revenue flooding into Treasury coffers - but no handouts just yet for cash strapped Australians struggling from the higher cost of living. That's the good news theme from the midyear budget update just released by Treasurer Jim Chalmers. The deficit for the current year is much slimmer at just over a billion dollars .. a massive revi...

Remember when cash was king? It seems those days are fading fast as the Reserve Bank works to ensure cold hard cash keeping flowing through the economy. The demise is unfolding so quickly that Reserve Bank governor Michele Bullock worries about that consumers might soon be charged for using cash. Reporter: Peter Ryan, Senior Business Correspondent Featured: Michele Bullock, governor, Reserve Bank

A day out from the federal government's midyear budget update .. and the dripfeed of new measures continues. This morning it's more nipping and tucking to cut or "reprioritise" around $10 billion in spending in the battle to help ease inflation. Finance Minister Katy Gallagher once again plays down a budget surplus being forecast.

The ballooning cost of debt will push the federal government's borrowing costs up by an extra $80 billion over the next decade. That's the one of the big reality checks as Treasurer Jim Chalmers prepares to unveil the midyear fiscal and economic outlook on Wednesday. Dr Chalmers also appears to be backing away from earlier rosy predictions that he'll deliver a budget surplus for the current year....

Cisco global security chief Jeetu Patel warns "the bad guys are winning - today, categorically the bad guys are winning". Mr Patel tells AM "significant action" is needed to utilise artificial intelligence "for good" in the face of growing cyber risks that are targeting critical infrastructure. Reporter: Peter Ryan, Senior Business Correspondent Featured: Jeetu Pate, general manager of security, C...

Cisco global security chief Jeetu Patel warns "the bad guys are winning - today, categorically the bad guys are winning". Mr Patel tells AM "significant action" is needed to utilise artificial intelligence "for good" in the face of growing cyber risks that are targeting critical infrastructure.

It didn't come as a total surprise to Australian households - but there's now firm evidence that aggressive interest rate rises are at last slowing the economy. Official economic growth figures out yesterday show almost flat-lining growth in the third quarter of this year. So what does that mean for interest rates - and will there be any relief for households in the new year?

Australia's economy slowed dramatically in the third quarter of this year as aggressive interest rate rises and cost of living pressures eat into household budgets. GDP in the quarter came in at just 0.2 percent, well below forecasts, making 2.1 percent over the year. The Bureau of Statistics says government spending and public investment have been major contributors to economic growth. Reporter:...

Australia Post chief executuve Paul Graham tells AM the institution would have eventually run out of cash without a dramatic overhaul of its traditional letters business. Mr Graham also said there will be no job cuts as a result of Australia Post cutting letter deliveries to every second day. Reporter: Peter Ryan, Senior business correspondent Featured: Paul Graham, CEO, Australia Post

As expected, the Reserve Bank holds the cash rate at 4.35 percent. Michele Bullock remains resolute about taming inflation, but economists are now seeing rate cuts from the end of 2024.

It's back to the drawing board for Origin Energy after shareholders rejected a $20 billion takeover from a Canadian private equity giant Brookfield and EIG Partners. The failed deal ends one of the biggest corporate plays of the year, But despite the knockback, Origin is pushing ahead with it's plans for the high stakes transition from coal and gas generation to renewables after Australian Super (...

Official interest rates are almost certain to remain on hold at 4.35 percent when the Reserve Bank meets tomorrow. While borrowers will breathe a sigh of relief, the RBA board will remain on alert for rising inflation even though the most recent monthly update shows the annual rate slowing to 4.9 percent.

Official interest rates are almost certain to remain on hold at 4.35 percent when the Reserve Bank board meets tomorrow. While borrowers will breathe a sigh of relief, the RBA will remain on alert for rising inflation even though the most recent monthly update shows the annual rate slowing to 4.9 percent. Reporter: Peter Ryan, Senior Business Correspondent

Budget "rolling in money". Economist Chris Richardson tips a $10b surplus but sees "tricky politics" with Treasurer Jim Chalmers hamstrung about sharing budget bonanza with struggling Australians - worried about stoking inflation. @abcnews

It's that time of year when Treasurer Jim Chalmers puts the finishing touches on the midyear economic and fiscal update. Dr Chalmers is busy managing expectations about budget surplus. Economist Chris Richardson sees a $10b surplus - but no handouts for hurting Australians given the risk of stoking inflation.

When was the last time you withdrew cash from a bank or ATM? The increasingly cashless society is challenging the viability of cash transport firm Armaguard which moves 90 percent of cash around Australia. Also National Australia Bank executive Rachel Slade on winding back expectations for instant transactions as the risk of scams force banks to impose more checks and balances. Reporter: Peter Rya...

The Reserve Bank's aggressive interest rate hiking strategy appears to be over although rates will stay high until there's firm evidence inflation has been tamed. The OECD is now predicting the RBA will cut interest rates by 0.75 percentage points from late 2024 as the economy crunches from 13 hikes since May 2022. Deloitte Access Economics partner Stephen Smith warns Australia's budget is in a "p...

The latest measure of inflation, October's monthly Consumer Price Index, comes in at 4.9 per cent, down from 5.6 per cent in the 12 months to September as the impact of 13 rate hikes flows through the economy. Also Reserve Bank governor Michele Bullock says Australians are "doing fine" and coping higher mortgage repayments. Reporter: Peter Ryan, Senior Business Correspondent Featured: Michele Bull...

It might not feel like it for some listeners at the moment, but Australian households are "doing fine" despite aggressive interest rate rises from the Reserve Bank. That's the assurance from RBA governor Michele Bullock who's conceded that 13 rate hikes since May last year have created a lot of "political noise" from borrowers who are now feeling the pressure.

Customers left without phone and internet services during this month's nationwide Optus outage are being asked to have their say as part of a review. The Federal Government has released the terms of reference for its inquiry into the incident that affected about 10 million customers. Reporter: Peter Ryan, Senior business correspondent Featured: Michelle Rowland, Communications Minister