Firms Overestimate Data Exchange Compliance, Says Study

Almost half of sample's Fatca filings 'inaccurate'

nickcastellina
Nick Castellina, vice president and research group director, business planning and execution, Aberdeen Group

Many firms are "blissfully unaware" of their failure to achieve full compliance with requirements related to the automatic exchange of information (AEoI), a report says.

The report, titled Stop Playing With Fire, is based on an online survey conducted by Aberdeen Group and Sovos Compliance of 100 financial institutions that operate accounts for customers based in other countries. Firms all over the world are affected by rules for AEoI, notably the Foreign Account Tax Compliance Act (Fatca), the

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