[ProfChronos]

Completely agree. When I was working for a French bank, I saw how the US treats money laundering and it's an absolute nightmare. Let's take the example of a transaction that is processed in EUR by a French bank, from a French company to a Chinese company, on goods manufactured in, let's say, Ivory Coast. If in the email discussion, somebody answers while he/she in the US for holidays, then the transaction will fall under Fatca while there is absolutely no US interests affected whatsoever. Bottom line: Fatca is not only about money laundering, it is largely about maintaining the US dominance of international banking.