'The End of Bank Secrecy'? Bridging the Gap to Effective Automatic Information Exchange

64 Pages Posted: 1 Apr 2017

See all articles by Andres Knobel

Andres Knobel

Tax Justice Network

Markus Meinzer

Tax Justice Network

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

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

Andres Knobel (Contact Author)

Tax Justice Network ( email )

Argentina

Markus Meinzer

Tax Justice Network ( email )

38, Stanley Avenue
Chesham, HP5 2JG
United Kingdom

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