How This Impacts Mobility
As the Japan statistics demonstrate, countries around the world are exchanging detailed information about financial accounts held by foreigners. In the U.S., the FATCA regime is well established, and has led to enormous revenue gains as well as criminal prosecutions. That process is also now well underway worldwide. Worldwide ERC® members with employees in other countries must be aware that information on the accounts of those employees is being widely exchanged and examined and may lead to questions from other countries.