No U.S. citizens are “innocent”. Ask Obama, Levin, Schumer, Baucus and Democrats abroad. They will confirm.
It was at a party in June in the tiny medieval village in Italy where I live that the lid started to lift on the Pandora’s Box of FATCA, FBAR etc.I had been dutifully filling out forms, getting things notarized, calling, emailing, mystified why it was taking so long to get an inheritance from my aunt of under $70,000 transferred from a bank in Minnesota to the account that I had had for 20 years or more with Morgan Stanley in Rochester, N.Y. I had just received an email from Morgan Stanley breezily wishing me a good summer and advising me that they could no longer go ahead with my account citing the Patriot’s Act! At the party I mentioned this to someone who worked for Credit Suisse in London and he said “KYC.” and explained. The next day I googled and found an article posted by American Citizens Abroad…
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