As someone who does have dual citizenship (UK and USA) and has been a BOA customer for over 20 years, my big question is what happens if you say "yes"? I didn't see this mentioned or discussed yet in the comments so far.
If you say "yes", nothing happens. Basically, the purpose behind this is to track "tax evaders", even though BSA, Patriot act, and FINCEN regulations sell this rule under the name of "anti-money laundering".
Think of this as NSA meta data gathering. NSA doesn't search metadata every day for some body. Instead, they use the meta data once suspicious person is located by other means.
IRS, FINCEN, FBI, etc want to have access this info on their fingertips.
Think of this as NSA meta data gathering. NSA doesn't search metadata every day for some body. Instead, they use the meta data once suspicious person is located by other means.
IRS, FINCEN, FBI, etc want to have access this info on their fingertips.