A ground-breaking alliance dedicated to tackling global financial
crime must continue its efforts to defeat tax cheats and frauds
Financial Secretary to the Treasury, Lucy Frazer QC told an
enforcement summit this week.
The heads of tax enforcement
from the UK, Australia, Canada, Netherlands and the US came together
in London for the latest Joint Chiefs of Global Tax Enforcement (J5)
summit to share intelligence and coordinate efforts on a global level
against international tax crime and money laundering.
Financial Secretary to the Treasury, Lucy Frazer, told the
Tax fraud is a perennial and persistent threat to all
our nations. Unity, transparency and collaboration will be essential
if we’re to tackle it.
Put simply, tax cheats flourish when we
fail to work together. Every scrap of information left behind by
fraudsters – in any one of our jurisdictions – is a potential lead in
the fight against global tax crime.
By joining forces, we
undermine the global criminal community in ways we could not do
The London summit, hosted by HM Revenue and Customs
(HMRC), marked four years since the J5 group was established and
renewed commitments to build on recent operational successes to find
innovative solutions to some of the most complicated tax crime matters
facing all five countries, providing global leadership on
collaboration between tax authorities.
The week-long summit
began with the J5 Challenge, which brings together investigators,
subject experts, data scientists and others to analyse a range of data
and intelligence, including that from decentralised exchanges, to
identify tax evasion.
The event also included the inaugural
Global Financial Institution Summit (GFIS) – the start of ambitious
talks between the J5 and some of the world’s biggest banks on what
more can be done to tackle tax crime together.
followed by a public-private partnership event where leaders from both
sectors came together to examine key threats to the international tax
The summit culminated in a Chief’s meeting where the
partners discussed emerging threats and agreed new operational
priorities and targets. It follows a string of recent successes for
the J5, including 10 individuals charged, following a suspected
multimillion-pound investment and impersonation scheme, aimed at
defrauding people across the globe.
Simon York, Director,
Fraud Investigation Service, HMRC said:
I am absolutely
delighted have been asked to host this J5 International Tax
Enforcement Summit, the first face-to-face meeting in over two years,
and first meeting of our J5 Public Private Partnership.
a big moment for the J5 and a key step forward in realising our aim of
becoming the international voice of tax enforcement.
fantastically well to work virtually over the last two years but
getting together has enabled us to significantly strengthen our
relationships and plan the next phase of this ground-breaking
At the conclusion of the meeting, each Chief signed
on to a Communique that reaffirmed their commitment to the
organisation and summarised the progress made throughout the week.
Brett Martin, Assistant Commissioner, Australian Taxation
Office (ATO) said:
This week has been highly productive and has
highlighted the commitment working with a public-private partnership
model. Working together to tackle professional enablers of tax evasion
and crime, and associated money laundering, we aim to enhance our
systems to better detect and disrupt criminal
Information sharing across the J5, enhanced with
stronger relationships with financial institutions places us at the
forefront of disrupting criminal networks that target our public
finances, especially when it comes to tackling professional enablers
Eric Ferron, Director General, Criminal
Investigations, Canada Revenue Agency (CRA) said:
is clear: Canada and our J5 partners will not tolerate cross border
tax evasion. The work accomplished this week will go a long way
towards expanding our reach of tax enforcement.
Chief and General Director, Fiscal Information and Investigation
Service (FIOD) said:
Although investigating crimes associated
with decentralized finance and NFTs may sound challenging, it is
essential to acknowledge the importance of these innovations and to
address this topic in the future, we have to, if we want to
effectively combat these new forms of crime.
Jim Lee, Chief,
IRS Criminal Investigation said:
It clearly feels like we have
turned a corner with this gathering of the J5 in London this week. We
have gone from an organization trying to find our footing and our
voice to an organization that is poised to have some of the biggest
enforcement announcements this year.
We are working with the
biggest banks, establishing partnerships in public and private
industries, and putting criminals in jail – it is no longer
conceptual, it is reality.
works together to gather information, share intelligence and conduct
coordinated operations against transnational financial crimes. The J5
includes the Australian Taxation Office, the Canadian Revenue Agency,
the Dutch Fiscal Information and Investigation Service, HM Revenue and
Customs from the UK and IRS Criminal Investigation from the U.
Tackling tax evasion is a crucial part of HMRC’s role in
supporting and creating a level playing field for compliant
Where sanctions evasion is taking place, the
National Crime Agency will investigate, and the government has
recently announced the formation of a new dedicated ‘Combating
Kleptocracy Cell’ to target sanctions evasion and corrupt elites’
assets hidden in the UK.
Through the Economic Crime
(Transparency and Enforcement) Act, the government has taken far-
reaching steps to improve corporate transparency, including
introducing a Register of Overseas Entities to crack down on foreign
criminals using UK property to launder money, reforming Unexplained
Wealth Orders, and strengthening HM Treasury’s ability to take action
against sanctions breaches.
For more information about the J5,
please visit www. irs. gov/j5. Press enquiries Tel: 03000 520 184
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