Rahman Ravelli
Rahman Ravelli Solicitors Logo
Call Our Rapid Response Team: 0800 559 3500  Request a Callback
Our Services Sectors International About Us Legal Articles News Contact Us
Rapid Response: 0800 559 3500
Rapid Response: 0800 559 3500
 

/ News / Legal Director Syed Rahman considers HMRC’s tax evasion and money laundering investigation that was co-ordinated with fellow J5 agencies.

Legal Director Syed Rahman considers HMRC’s tax evasion and money laundering investigation that was co-ordinated with fellow J5 agencies.



HM Revenue and Customs is claiming success in a co-ordinated international investigation into tax evasion and money laundering. Syedur Rahman of corporate crime solicitors Rahman Ravelli outlines the case and examines HMRC’s new approach to working with other nations’ agencies.

HM Revenue and Customs says it helped uncover £200M-worth of suspected tax evasion and money laundering in the UK as part of a series of co-ordinated investigations with agencies in Australia, Canada, the Netherlands and the US.

The operation is the first major activity from the Joint Chiefs of Global Tax Enforcement, known as the J5, which involves agencies from the five countries. It was established to tackle international tax crime and money laundering. The J5 brings together tax, cryptoasset and cybercrime experts to gather and share information about those who enable global tax evasion.

According to HMRC, the operation has gathered “significant information” in relation to a Central American financial institution whose products and services are believed to be facilitating tax evasion and money laundering worldwide. HMRC expects further criminal, civil and regulatory action to arise in each country. It suspects that a number of the institution’s UK clients are using it to conceal and transfer wealth anonymously to evade tax obligations and launder an estimated £200M.

HMRC visited several businesses in order to obtain information to assist its investigations. One person arrested in the UK on suspicion of cheating the public revenue and money laundering has been questioned and released pending further enquiries.

While the idea of J5 sounds exciting, the biggest challenges facing global investigations are co-ordination and timing. Difficulties can arise when enforcement agencies have to co-ordinate or take the lead in investigations that involve other countries. In some cases, any shortcomings or mistakes can make such investigations the subject of legitimate legal challenges by defence teams.

Syedur Rahman

Syedur Rahman

Legal Director

syedur.rahman@rahmanravelli.co.uk
+44 (0)203 910 4566 vCard

Specialist Areas of Practice: Fraud and Business Crime, Compliance and Regulatory, Civil Recovery, Civil Fraud, Corporate Investigations

View Author Profile

London Office: +44 (0)203 947 1539
Midlands Office: +44 (0)121 827 7985
Northern Office: +44 (0)1422 346 666
24hr Rapid Response: 0800 559 3500


Need Help or Advice?

Share this article on