The federal government has resumed processing applications for early access to superannuation.

So far, more than 1.2 million people have applied to access their superannuation early – as a buffer against the coronavirus economic downturn – for a total value of over $10 billion.

But the process was temporarily suspended following concerns about fraud.

Assistant Treasurer Michael Sukkar said the Australian Tax Office had identified a small number of third parties who could be susceptible to criminal activity and was working with them to improve security.

“Australians can have confidence in the security measures the ATO has in place to protect the integrity of the early release of superannuation scheme,” Mr Sukkar said in a statement on Monday.