New International Task Force Cracks Down On Cryptocurrency Tax Crime
According to a press release Monday, tax enforcement agencies from Australia, Canada, the Netherlands, the United Kingdom and the United States have established a joint operational alliance, the Joint Chiefs of Global Tax Enforcement (J5). This is an effort to increase collaboration in the fight against international and transnational tax crime and money laundering.
According to the statement, “The alliance focuses on building international enforcement capacity by sharing information and intelligence, enhancing operational capability by piloting new approaches, and conducting joint operations to bring those who enable and facilitate offshore tax crime to account.”
The alliance was assembled in response to “a call to action” by the Organization for Economic Co-operation and Development (OECD) to “do more” on the enablers of tax crime.
The J5 consists of a diversified team of experienced officials. “Membership of the J5 includes the heads of tax crime and senior officials from the Australian Criminal Intelligence Commission (ACIC) and Australian Taxation Office (ATO), the Canada Revenue Agency (CRA), the Dutch Fiscal Information and Investigation Service (FIOD), Her Majesty’s Revenue & Customs (HMRC), and Internal Revenue Service Criminal Investigation (IRS-CI).”
The statement indicates that “successes, new approaches and findings from these joint efforts will be shared with the greater tax enforcement community.” Updates on J5 initiatives are expected in late 2018 as tactical plans and identified opportunities develop.