Hundreds of Australians caught up in global sting by tax agencies

Hundreds of Australians who used a Central American bank to hide taxable wealth face being caught up in a global tax avoidance sting, with at least 14 already identified by the Australian Tax Office (ATO). Australian individuals are expected to face criminal and civil action in the wake of a special "day of action" by the J5 group of tax institutions, made up of agencies from the United States, Australia, Britain, Canada and the Netherlands. The J5 is looking at clients, some of whom are based in Australia, who are thought to have used the bank to conceal and transfer wealth secretly ...