5-nation Joint Task Force To Tackle Crypto-funded Cybercrimes

j5 july4

Tax enforcement authorities of five nations have established a joint operational alliance to fight international tax crime and money laundering, including cybercrimes facilitated through cryptocurrencies.

The Joint Chiefs of Global Tax Enforcement, known as "the J5," is comprised of tax enforcement agencies from the U.K., Australia, Canada, the Netherlands, and the United States. They are, the Australian Criminal Intelligence Commission (ACIC) and Australian Taxation Office (ATO), the Canada Revenue Agency (CRA), the Dutch Fiscal Information and Investigation Service(FIOD), the Her Majesty's Revenue and Customs (HMRC) of Britain, and the Internal Revenue Service Criminal Investigation (IRS-CI) of the United States.

The first meeting of J5 was held last week, in which experts in tax and other financial crimes from the five member countries laid emphasis on cryptocurrency as an area of concern in financial crimes.

Hans van der Vlist, the General Director of FIOD, said "The unique thing about the J5 is the operational collaboration between five countries on tackling professional enablers that facilitate offshore tax crime, cybercrime and the threat of cryptocurrencies to tax administrations, as well as making best use of internationally available data and technology."

Johanne Charbonneau, Director General of Canada Revenue Agency, said the formation of the J5 demonstrates the serious commitment of governments around the globe in enhancing international cooperation in fighting serious international tax and financial crimes, money laundering, and cybercrime through the use of cryptocurrencies.

For comments and feedback contact: editorial@rttnews.com

Economic News

What parts of the world are seeing the best (and worst) economic performances lately? Click here to check out our Econ Scorecard and find out! See up-to-the-moment rankings for the best and worst performers in GDP, unemployment rate, inflation and much more.

Follow RTT