"Hundreds" of Australians caught in global swoop as tax agencies target financial institution in Central America

Potentially hundreds of Australian tax avoiders using a dodgy bank in Central America could face civil or criminal charges after a global investigation into money laundering and tax evasion. 

Tax agencies from the United States, Britain, Canada, Australia and the Netherlands targeted a financial institution operating in multiple countries that allegedly uses a sophisticated system to conceal and transfer wealth anonymously to launder the proceeds of crime. 

ATO assistant commissioner Brett Martin tells ABC's Peter Ryan that Australians using the scheme could face criminal or civil charges.