U.S. Citizens in Canada InfoShop

2012 Dec # – Young

Michael Young
FATCA’s security problem
NOW (Dec 2012)


Young highlights an underreported drawback of the US FATCA inititative. “Foreign financial institutions will effectively become vast repositories of information on Americans — including what they earn, the sources of their income, what they spend, where they live, who their family members are, and so on. In their zeal to implicitly label Americans living abroad as tax cheats requiring monitoring, the sponsors of FATCA have shown utter indifference to the safety of their citizens.” The absence of State Department expression on FATCA is noted.


Written by usxcanada

1 December 2012 at 6:00 am

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