Australian tax officials have met with counterparts in Washington and identified dozens of potential cryptocurrency tax evaders or cybercriminals.
The meeting, known as the Joint Chiefs of Global Tax Enforcement, involved officials from the US, UK, Australia, Canada and the Netherlands, widely known as the J5.
They shared data, tools and tax enforcement strategies in a bid to find new leads that could stop growing cross-border money-laundering, tax evasion and cybercrime.
The effort is part of renewed global focus on fighting tax evasion tied to cryptocurrency, as digital currencies have become more popular and gained in value.
The US Internal Revenue Service’s cybercrime unit has developed new tools in place to fight cyber criminals and cryptocurrency tax evaders that it didn’t have a year ago.
The IRS says that, along with its partners, including Australia, it is using data from previous enforcement activities to find new criminals, while other data from the five countries now gives tax authorities across the globe a broader view of how accounts, money and people are connected.
