Fiserv: FATCA and IGA compliance – smartly use AML smarts

It did not take long for the financial industry and its regulators to see that there are a lot of connections between the Foreign Account Tax Compliance Act (FATCA) and AML. After all, tax evasion is a financial crime just like money laundering, that often involves similar offshore mechanisms. For organisations, the use of AML solutions may be extended to manage FATCA compliance.

FATCA’s requirements for additional “compliance checks” when opening accounts are involve data queries to

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