FATCA in Hong Kong

The end of March marks the next deadline for the exchange of information between financial institutions in Hong Kong and the US Internal Revenue Service (IRS) under the FATCA rules. Americans and Green Card holders living in Hong Kong who are not compliant with their US tax filing obligations are at risk of heavy fines,

Anti-Money Laundering

Anti-Money Laundering Although the term Anti-Money Laundering is primarily utilized in the Financial Services realm, it has become a more widely used term in recent years. Mostly, Anti-Money Laundering are controls that require financial institutions and other businesses that are regulated to prevent, detect and report suspicious activities. Initially, this gained the most traction domestically

Foreign Bank Accounts, FATCA, and Offshore Tax Evasion

Foreign Bank Accounts, FATCA, and Offshore Tax Evasion The Financial Services Industry is paying close attention to what the U.S. Government will be enforcing in 2015. With many foreign financial institutions giving their data on U.S. accounts over to the Internal Revenue Service, account holders and companies living in and doing business in the United