Download This Paper'The End of Bank Secrecy'? Bridging the Gap to Effective Automatic Information Exchange
64 Pages Posted: 1 Apr 2017
Date Written: November 24, 2014
Abstract
The OECD developed the Common Reporting Standard (CRS) for automatic exchange of information. However, the CRS contains several loopholes regarding access to information by developing countries, thresholds and a number of excluded accounts and a lack of sanctions to enforce compliance. This papers explains the scope of the CRS, identifies several loopholes and proposes solutions to address them.
Keywords: CRS, automatic exchange of information, banking secrecy
Suggested Citation: Suggested Citation
Knobel, Andres and Meinzer, Markus, 'The End of Bank Secrecy'? Bridging the Gap to Effective Automatic Information Exchange (November 24, 2014). Available at SSRN: https://ssrn.com/abstract=2943979 or http://dx.doi.org/10.2139/ssrn.2943979
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