Leaders from five international tax organizations met in Washington, DC, this week to mark the one-year anniversary of the formation of the J5 and announce the results from its first year. The meeting coincided with a global cyber training event hosted by the United States at the World Bank.
The five Chiefs who make up the Joint Chiefs of Global Tax Enforcement (J5) have spearheaded this new operational organization specifically focusing on shared areas of concern and cross-national tax crime threats including cyber-crime and crypto-currency as well as enablers of global tax evasion, while working to share intelligence and data in near real time.
The J5 includes the heads of tax crime and senior officials from the Australian Criminal Intelligence Commission (ACIC) and Australian Taxation Office (ATO), the Canada Revenue Agency (CRA), the Dutch Fiscal Intelligence and Investigation Service (FIOD), Her Majesty’s Revenue & Customs (HMRC), and Internal Revenue Service Criminal Investigation (IRS-CI).
The J5 is involved in more than 50 investigations involving sophisticated international enablers of tax evasion, including a global financial institution and its intermediaries who facilitate taxpayers to hide their income and assets. These highly harmful, high-end enablers of tax evasion were previously thought to be beyond the reach of the member countries. The agencies are also cooperating on cases covering crimes from money laundering and the smuggling of illicit commodities to personal tax frauds and evasion. Additionally, there have already been hundreds of data exchanges between J5 partner agencies with more data being exchanged in the past year than the previous 10 years combined.
Each J5 country has leveraged different capabilities to enhance the effectiveness and success of the J5. Working within existing treaties and laws, J5 countries shared information and were able to open new cases, more rapidly develop existing cases in the enforcement process, and find efficiencies to reduce the time it takes to work cases.
“I’m pleased with the progress the J5 has made on several significant joint investigations since its establishment last year,” said Will Day, Deputy Commissioner, ATO. “The collective intelligence available through the J5 is instrumental in enabling us to tackle serious and organised financial crime threats located in both Australia and offshore .”
“Tax crimes continue to evolve in their level of sophistication and complexity, which is why it is essential that we collaborate with our international partners to combat tax evasion,” said Stephane Bonin, Director General, CRA. “After one year working with the J5, we are now all better equipped to conduct operations together in the fight against those who commit, promote and enable international tax crimes and money laundering. Together, we will continue to tighten the net on those who break tax laws, and ensure they face the consequences of their actions.”
“The cooperation between the J5 countries is becoming more effective and operational,” said Hans van der Vlist, General Director FIOD. “Two weeks ago we took offline an important online mixer for cryptocurrencies. We are now analyzing the seized information. We expect good leads for investigations in J5 countries. Another example is the FCInet matching system that will help us in the fight against transnational fiscal and financial crime.”
“When we launched the J5 we were clear that we wanted to use our combined powers and expertise to close the net on offshore tax evaders, international organised crime groups and those who help them,” said Simon York, Director HMRC Fraud Investigation Service. “In just 12 months, that net has tightened with eighteen suspected enablers in our sights and a further 50 cases in the pipeline. This builds on work that has seen HMRC secure more than £2.9bn from offshore tax evaders since 2010. Our message remains clear – no matter how safe you think you are, the J5 are closing in.”
“I’m extremely proud of the work we have accomplished in just one year since the formation of the J5,” said Don Fort, Chief of IRS-CI. “Each country came to the group with expectations and challenges that needed to be overcome so we could each realize our goal. We have found innovative ways to tackle these problems, remove barriers, and develop processes that make the sum of all of our parts a much more efficient and successful organization. It is not a good time to be a tax criminal on the run—your days are numbered.”
In addition to the group’s work with enablers and virtual currency, the J5 also focused on platforms that enable each country to share information in a more organized manner. FCInet is one such platform that each country has invested in to further that goal. FCInet is a decentralized virtual computer network that enables agencies to compare, analyse and exchange data anonymously. It helps users to obtain the right information in real-time and enables agencies from different jurisdictions to work together while respecting each other’s local autonomy. Organizations can jointly connect information, without needing to surrender data or control to a central database. FCInet doesn’t collect data, rather it connects data.
Offshore evasion is an international issue that affects more than just the J5 countries and calls for international solutions. Collectively, the J5 has taken the unprecedented action to revolutionise transparency internationally. As a result of its leadership in this space, J5 countries are making it harder for people to dodge taxes by hiding their money abroad.
The cyber training this week was hosted by IRS-Criminal Investigation (IRS-CI) in conjunction with the World Bank. The event brought in more than 120 international and domestic law enforcement partners from approximately 20 countries to address emerging areas associated with cybercrime. Over the past several years, IRS-CI has been a leader in cyber-crimes and the investigative work worldwide. Training was provided on virtual currency, blockchain and the dark web. Additionally, case presentations were presented from IRS-CI special agents and members of the J5 working group. The last day of training consisted of advanced trainings on cryptocurrency tracing and open source intelligence.
Leaders of tax enforcement authorities from Australia, Canada, the Netherlands, the United Kingdom and the United States established the joint operational alliance known as the J5 in mid-2018 to increase collaboration in the fight against international and transnational tax crime and money laundering. For more information about J5, please visit www.irs.gov/J5.
SOURCE Joint Chiefs of Global Tax Enforcement (J5)
New Research Reveals SafelyYou’s AI-Enabled Fall Detection Reduces Need for Emergency Service Care in Dementia Care Facilities
Real-time fall detection using SafelyYou’s artificial intelligence-enabled video recording reduced the need for emergency services by a staggering 80% in dementia care facilities, according to research results published in the American Journal of Managed Care. The study closely examined the impact of SafelyYou’s memory care-focused technology to detect falls, videotape falls and notify care staff so that video review of the incident could occur immediately after each fall.
“According to the Alzheimer’s Association Report (2016), fall injury is the leading cause of Alzheimer dementia–related hospitalizations, with $5.3 billion in annual cost to Medicare,” said Glen Xiong, Advisory Board Member for SafelyYou. “In residential care facilities, individuals with dementia fall, on average, four times per year and twice as often as other residents. Falls often go unwitnessed. Due to uncertainty regarding the seriousness of each fall, facility staff frequently activate local emergency medical teams to examine the residents, and such visits often result in emergency department visits.”
The study, supported in part by a National Institutes of Health, National Institute of Aging Small Business Innovation Research Grant, was conducted with enrolled participants on June 1 to Aug. 31, 2018. Fall incidents and outcomes were routinely recorded for facility residents, and facility staff reviewed the falls in real time, immediately after each incident, for study participants.
Among 147 falls in the control group, 52 (35.4%) resulted in EMT visits and 36 (24.5%) resulted in ED visits. In contrast, the intervention group had 83 falls, with 13 (15.7%) and seven (8.3%) resulting in EMT and ED visits, respectively. There were relative reductions of 75% in EMT visits and 80% in ED visits.
The AI-enabled camera fall detection system coupled with staff review of fall videos led to more accurate identification of serious falls and incidents compared with less serious falls, such as when a resident intentionally moved to the ground but did not fall.
“Using emergency services less frequently leads to lowered healthcare costs and stress for everyone,” said George Netscher, CEO of SafelyYou. “Speaking with families and hearing the testimonials is really the very best part of our day.”
Metadata.io Emerges as MarTech Force with Rapid Company Growth and Leader Position in G2 Crowd Summer 2019 Momentum Grid® Report for Account-based Execution
Metadata.io (https://www.metadata.io/), the AI-powered account-based advertising platform for predictable B2B lead generation, today announced it is fast rising as a leader in the MarTech industry based on customer satisfaction. As a second-place Leader in G2 Crowd’s Summer 2019 Momentum Grid® Report for Account-based Execution, Metadata helps CMOs deliver a qualified pipeline to sales organizations by generating a predictable flow of inbound MQLS from within their target accounts.
Metadata customers like Nutanix, Nexmo and others have repeatedly won awards for best performing campaigns on LinkedIn and Facebook. They are among a growing list of early adopters that are achieving the industry’s top benchmarks in customer acquisition and ROAs using Metadata.
See the full Summer 2019 Momentum Grid Report here: http://bit.ly/2xGyaA5
“Our ranking is 100 percent attributed to our sophisticated customer base who bravely adopted early AI technology and achieved great ROI multiplier through automation and experimentation,” said Gil Allouche, CEO of Metadata. “Together, we are transforming marketing operations with AI. With Metadata, B2B marketers gain unprecedented ROI from digital investment, in a more predicted, measured fashion.”
“Our investment with Metadata empowered us to automatically target and convert sales-qualified leads that not only impacted revenue, but completely automated and simplified the execution of our account-based campaigns,” said Rob Bethell, Marketing Manager at RStudio.
For the quarterly Grid Momentum Report, G2 Crowd rates products based on reviews gathered from the user community, as well as data aggregated from online sources and social networks. The Momentum Grid for Account-based Execution is based on scores calculated using the G2 Satisfaction algorithm and G2 Momentum algorithm from reviews collected through May 29, 2019. In the Summer 2019 momentum report, Metadata showed strong growth in reviews, social and web.
Knowmatix: An Online Educational Platform for the Cryptocurrency Industry
Knowmatix is an online, in-depth educational platform providing the fundamentals and practical skills necessary to become successful in the Blockchain, Cryptocurrency industry from the comfort of your own home.
By applying our easy to understand, proven methods and applications, it is now easier than ever to successfully become a knowledgeable leader in blockchain technologies industry through our online accelerated educational program. Our comprehensive introductory program provides a fundamental understanding of how various blockchains operate and how easy it is to strategically trade cryptocurrency in today’s centralized economy.
Our founder and curriculum developer, Abdulaziz AlYaqout, is currently operating in Miami Beach, Florida. Prior to forming Knowmatix, Mr. AlYaqout took lead as an important consultant for the business analyst team at Ryder Systems, Inc. and the University of Miami Hospital and Clinics. He holds BS Degree and MS in Industrial Engineering, both from the University of Miami.
As lead instructor for Knowmatix, Mr. AlYaqout’s first course is a blockchain and digital currency microdegree that provides you the basic tools to start and advance your professional career in the cryptocurrency.
Learn the technical analysis basics and terminology and develop buying strategies and skills to grow your personal finances. Learn how to deconstruct the blockchain technology, and the importance of Hashing. Discover Bitcoin and understand its history and role in the cryptocurrency marketplace.
Knowmatix, seeks to create a Knowmatix Impact Program (KIP) that forms strategic alliances with reputable businesses operating in the Blockchain industry. This involves Knowmatix assigning project managers to given projects, and delegating work per project basis to qualified star students. While forming alliances with businesses, Knowmatix will align itself with schools and institutions to provide a custom backend solutions curriculum to help revamp their online courses. This effort provides colleges and institutions cost saving measures by offering its platform in a software program, which acts as an additional resource to aid students with completing their education, and securing a career through Knowmatix alliances and partners in the ever growing technology field, nationwide.
With Knowmatix’ proprietary platform and blockchain-focused training services, Mr. AlYaqout ventures to be part of the governmental effort to Buy American and Hire American with special interest for advancing the careers of woman and Veteran groups nationwide to team up with Knowmatix.
For additional information and preview of our proprietary educational curriculum, please visit our website at www.knowmatix.com.
What You Will Learn
- Cryptocurrency terminology
- Deconstructing blockchain technology
- Understanding Hashing
- Digital Currency and its Future
- Bitcoins role and history
- Currency wallets
- Crypto Research tools
- Buying strategies
- Digital Asset Classifications
- Blockchain Analysis Basics
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