The Joint Chiefs of Global Tax Enforcement (J5) released its first report, detailing that the intergovernmental tax enforcement group is investigating more than 30 active cybercrime cases tied to financial and tax criminal activities all over the world.
During the J5’s first 6 years, it has generated more than a hundred leads, seized millions of dollars in criminal proceeds, issued notices to financial institutions and thwarted fraudulent investment and boiler-room schemes.
Ten of those cases came from leads produced at a weeklong meeting in Ottawa last year with cryptocurrency experts and data scientists as part of a coordinated push to track down individuals and organizations committing tax-related crimes around the world, according to the report, documenting the group's successes, partnerships and initiatives since it formed in 2018.
The group, known as the J5, consists of tax law enforcement agencies from five countries: the Internal Revenue Service's Criminal Investigations from the U.S., the Australian Taxation Office, the Canada Revenue Agency, the Fiscal Information and Investigation Service from the Netherlands and HM Revenue & Customs from the U.K. The agencies, through their collaboration in J5, gather information, share intelligence and conduct coordinated operations against transnational financial crimes.
"Six years ago, our five countries took a chance and publicly joined together to root out tax crimes," IRS CI Chief Guy Ficco said in a statement. "We have learned a tremendous amount by working together and we are now an organization firing on all cylinders with real operational results — results that would not exist were it not for the J5."
The group, known as the J5, consists of tax law enforcement agencies from five countries: the Internal Revenue Service's Criminal Investigations from the U.S., the Australian Taxation Office, the Canada Revenue Agency, the Fiscal Information and Investigation Service from the Netherlands and HM Revenue & Customs from the U.K. The agencies, through their collaboration in J5, gather information, share intelligence and conduct coordinated operations against transnational financial crimes.
"Six years ago, our five countries took a chance and publicly joined together to root out tax crimes," IRS CI Chief Guy Ficco said in a statement. "We have learned a tremendous amount by working together and we are now an organization firing on all cylinders with real operational results — results that would not exist were it not for the J5."
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Read more at: Tax Times blog
