Privacy Laws Pose Challenge To FATCA Compliance

Law360, Miami (March 17, 2015, 10:08 PM EDT) -- As reporting under the Foreign Account Tax Compliance Act begins this year, anti-money laundering professionals with multinational clients will have to deal with challenges like drastically different privacy rules when trying to comply with the act across borders, experts said at a conference Tuesday.

FATCA compliance was on the minds of many at the Anti-Money Laundering and Financial Crime Conference in Hollywood, Florida, as financial crime professionals struggle with getting their foreign financial institution clients in line with the law's reporting requirements.

“Now FATCA is really...
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