London summit seeks stronger international action against financial crime

Government, law-enforcement and financial-industry leaders have met in London to improve cross-border cooperation against tax crime, money laundering and other financial offences.

HM Revenue and Customs hosted the 2026 Global Financial Industry Partnership summit on behalf of the Joint Chiefs of Global Tax Enforcement, known as the J5.

Discussions centred on better operational coordination across the financial system, stronger international information-sharing and ensuring that public-private partnerships produce measurable results.

The partnership brings together governments, law-enforcement agencies, financial institutions, financial technology businesses and financial intelligence units. Its purpose is to turn shared information into coordinated action against networks that move illicit funds across borders, sectors and technologies.

HMRC chief executive and first permanent secretary JP Marks said financial crime was evolving and that the response needed to keep pace. Combining the strengths of government, law enforcement and industry, he argued, would allow partners to identify and disrupt more activity than any organisation could alone.

Since the partnership’s launch in 2022, members have developed joint assessments of identity crime, financial crime enabled by fintech and trade-based money laundering. They have also tested ways to improve information-sharing and operational cooperation.

The J5 comprises HMRC, the Australian Taxation Office, the Canada Revenue Agency, the Dutch Fiscal Intelligence and Investigation Service, and the United States’ IRS Criminal Investigation division.

The group says shared intelligence, coordinated operations and advanced technology have helped uncover schemes that would be difficult for an individual country to dismantle alone.