An international financial institution in Central America is suspected of helping customers around the world evade taxes and launder money, according to a statement by tax investigators from the U.S., the Netherlands and three other nations coordinating a crackdown.

The tax agencies -- including the U.S. Internal Revenue Service -- discovered that the company was helping clients use a “sophisticated system” to conceal and transfer wealth anonymously to illegally skirt taxes internationally, the group of tax enforcement agencies said in a statement released on Thursday.

“It is expected that further criminal, civil and regulatory action will arise from these actions in each country,” according to the statement, which didn’t identify the financial institution or provide other details because the investigations are ongoing.

The other nations involved are the U.K., Australia and Canada.

Tax agents from the five countries, known as the Joint Chiefs of Global Tax Enforcement or J5, were able to identify the firm because of coordinated efforts to share intelligence, obtain search warrants, conduct interviews and issue subpoenas.

This marked the first major operation since the group formed in 2018, according to the statement. In November, the group said it had identified dozens of potential cryptocurrency tax evaders and cyber criminals as part of its joint efforts.

“Working with the J5 countries who all have the same goal, we are able to broaden our reach, speed up our investigations and have an exponentially larger impact on global tax administration,” IRS Criminal Investigation Chief Don Fort said in a statement. “Tax cheats in the U.S. and abroad should be on notice that their days of non-compliance are over.”

The effort is part of the Internal Revenue Service’s renewed focus on fighting tax crimes, particularly those tied to offshore tax evasion and cryptocurrency, as digital money has become more popular and gained in value. The agency has struggled in recent years to enforce tax laws and keep up with criminals as technology has advanced.

The investigation began with information obtained by the Netherlands, according to the statement.

“This is the first outcome of an operational collaboration between five countries on tackling professional enablers that facilitate offshore tax crime,” said Hans van der Vlist, chief and general director of Fiscal Information and Investigation Service (FIOD) in the Netherlands.

This article was provided by Bloomberg News.