Serious Financial Crime Taskforce

The multi-agency Serious Financial Crime Taskforce leads the Commonwealth operational response to high priority serious financial crimes – such as international tax evasion fraud, phoenix fraud and trust fraud, including the Commonwealth response to the Panama Papers.

The taskforce commenced on 1 July 2015 and, in its first year of operation, four people were convicted, with custodial sentences imposed. As at 30 June 2016, 19 joint operations were in progress, in excess of $133 million tax liabilities were raised, and $26 million in cash was collected with ongoing debt collection activity occurring.