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Top tax cop warns about organised crime recruiting professionals
The nation’s top tax crime fighter has warned about the recruitment of lawyers, currency and tax professionals into sophisticated criminal networks to hide illegal gains and evade authorities.
Will Day, chief of the Serious Financial Crime Taskforce, said the “enablers” were typically only aware of their “piece of the puzzle” rather than the full extent of the crimes their employer was involved in.
“But they very rapidly find themselves over their head,” said Mr Day, a deputy commissioner at the Australian Taxation Office.
Recruits often have big gambling debts and financial problems, or are attracted by the potential to make easy money and enjoy a flashy lifestyle.
“Their role includes how best to store, launder and remit illicitly obtained funds, and how to structure local and offshore entities to hold and move assets while hiding their ownership and value,” Mr Day said.
What we see in offshore tax evasion and associated money laundering is criminals brazenly moving money in an attempt to confuse the authorities and hide who is the actual owner or beneficiary.
“Money is moved through a series of fake entities that might be a corporation in one country and then go to a trust in another. In some cases we are even seeing these types of arrangements offered as package deals on the dark web.”
Mr Day added: “There’s always a chink in their armour we can trace it back to.
“There’s always a clue, whether that’s the money going offshore or the money coming back in or the way we work with other jurisdictions,” he said.
Professional recruits were being used for a range of activities, including:
Couldn't look you in the eye
You're just like an angel
Your skin makes me cry
You float like a feather
In a beautiful world
I wish I was special
You're so fuckin' special
I'm a weirdo
What the hell am I doin' here?
I don't belong here
I wanna have control
I want a perfect body
I want a perfect soul
I want you to notice
When I'm not around
So fuckin' special
I wish I was special
I'm a weirdo
What the hell am I doin' here?
I don't belong here