Technology Must Bridge the Gap Between Your Financial Institution’s Existing KYC Software and the Requirements of FATCA
Jeffrey S. Freeman, J.D., LL.M When a bank or financial institution develops its plan to ensure that its organization is FATCA compliant it must remember that the financial institution’s existing client information and technology sits as the cornerstone of complying with the law. “KYC”, or “know your customer”software tools have long been used by banks and financial institutions companies to keep track of client/customer data and information,...
Citizens leave, Companies Invert
Taxes seem to be motivating citizens and companies alike to look for foreign homes Jeffrey S. Freeman, J.D., LL.M companiesFATCA has caused shake ups worldwide among financial institutions and foreign account holders, but its impact spreads much broader to citizenship. Many may argue that taxes were the main factor in the past year as record numbers of citizens and...
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