The end of Financial Privacy?
The last decade a whirlwind went through the worldwide banking sector and financial institutions in general, where financial privacy of investors has been severely compromised, if not completely undone.
Internationally coordinated initiatives like FATCA (Foreign Account Tax Compliance Act), AML (Anti Money Laundering regulations), CRS (Common Reporting Standard) and particularly the AEOI (Automatic Exchange of bank account Information) make it hardly impossible to hold funds, assets and investments discretely.
However, the need for financial privacy, today and in the future, will remain unchanged.
Since medieval times and the crusades, people have searched for financial privacy throughout trusts and similar structures, in order to secure their own safety, the safety of their heirs and the assets they hold.