FATCA and Global Privacy Laws: Are Financial Institutions Walking a Tightrope?
Balancing global tax compliance with stringent data privacy laws has become a high-stakes challenge in an increasingly interconnected world. At the heart of this tension lies the Foreign Account Tax Compliance Act (FATCA)—a U.S. law requiring foreign financial institutions (FFIS) to disclose account details of U.S. taxpayers. Through FATCA reporting foreign assets, the U.S. government aims…
