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How would you challenge FATCA if you were a world leader?
As “US persons” abroad there is one thing that we all have in common: we are all vulnerable to the US government and subject to the whims of politicians and a tax code from a distant foreign country,...
View ArticleFATCA: Facilitating Attacks by Terrorists on Citizens Abroad
Michael Young (Twitter: @BeirutCalling), the opinion editor of Lebanon’s Daily Star, has a new column exploring a relatively undiscussed problem with FATCA: its impact on the privacy and security of...
View ArticleFinancial Times: Brussels fights US data privacy push
The Financial Times writes that a clash between European and US rules are “… likely to spark a diplomatic battle between Brussels and Washington, which has actively been trying to water down the EU’s...
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IRS’ insecure FATCA encryption settings, illustrated
With tax data breaches back in the headlines due to recent Congressional hearings, the IRS is moving to reassure FATCA subjects that they have absolutely no reason to be concerned about data security...
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IRS plays CYA on insecure IDES encryption for FATCA data uploads
In a comment, badger points to an IRS memorandum released last Friday: AM2015-005, “International Data Exchange Service (IDES) — responsibility for data transmitted under Sections 6103 and 6105, and...
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Thanks to Bruce Schneier, IRS quietly retracts two grossly insecure FATCA XML...
First, as renowned computer security expert Bruce Schneier first noted in February 2015 (and as we discussed last June), the IRS previously recommended that non-U.S. financial institutions use the...
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