US law enforcement agency the Internal Revenue Service Criminal Investigation Division (IRS-CI) and the South African Revenue Service’s (Sars') enforcement divisions are partnering to fight tax and economic crimes affecting both countries.
The organisations are working together to identify, investigate and bring to justice criminals of concern to both countries.
Some of the crimes under investigation include international public corruption, cyber-fraud and money laundering.
The newly formed partnership has already uncovered emerging schemes perpetrated by promoters, professional enablers and financial institutions, the organisations say.
“The global fight against financial crimes is not one that can be fought alone by any one country. Our partnership with Sars will soon reveal operational results made possible by our strong alliance and collaborative efforts.
“Taxpayers and tax professionals using offshore and other sophisticated schemes to evade US and South African laws will be uncovered and prosecuted to the full extent of the law,” IRS-CI global operations director Guy Ficco says.
A major component of the collaborative effort between the two countries includes an ongoing training initiative led by the IRS-CI.
The US agency continuously shares financial investigative techniques, trains South African law enforcement officers and government officials and highlights adjudicated international case studies relevant to both countries.
Earlier this month, the IRS-CI delivered an offshore tax evasion training webinar to about 40 Sars enforcement officers.