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Australia aims at cryptocurrencies in international tax campaign

Over 50 active investigations into tax avoidance schemes involve the Australian Tax Office (ATO) and some of its international counterparts. The schemes were found via global data sharing by key countries, focusing on the abuse of cryptocurrencies.

These investigations were revealed after the meeting of the J5, the Joint Chiefs of Global Tax Enforcement, formed by authorities from Australia, Canada, the Netherlands, the United Kingdom and the United States.

The J5 was established in 2018 to embark on cryptocurrency and cybercrime related risks, with emphasis in transnational tax crimes and money laundering. It means more information is now available to underpin data machine activities directed to tax criminals specifically.

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