We are part of the Serious Financial Crime Taskforce (SFCT), a multi-agency task force targeting serious financial crime in Australia. It is led by the Australian Taxation Office (ATO) and brings together the knowledge, resources and experiences of federal law enforcement and regulatory agencies to identify and address serious and complex financial crimes.
The SFCT’s goal is to target serious financial crimes of the highest priority, with a specific focus on 4 key areas:
- offshore tax evasion
- illegal phoenix activity
- serious financial crime affecting the ATO-administered measures of the Commonwealth Coronavirus Economic Response Package
- cybercrime (technology-enabled crime) affecting the tax and superannuation systems.
The task force includes:
- Australian Federal Police
- Attorney-General's Department
- Australian Transaction Reports and Analysis Centre
- Australian Securities and Investments Commission
- Commonwealth Director of Public Prosecutions
- Department of Home Affairs, incorporating its operational arm, the Australian Border Force
- Services Australia.
Serious Financial Crime Taskforce results
The Serious Financial Crime Taskforce started operation on 1 July 2015. From this date until 30 September 2022, the Taskforce has progressed cases that have resulted in:
- completion of 1,659 audits and reviews
- conviction and sentencing of 17 people
- raised over $1.593 billion in liabilities
- collected more than $630 million.
Find out more about the SFCT on the ATO website.