Does this sound familiar?
From the 15 October Globe and Mail.
Louise Arbour
Louise Arbour is former justice of the Supreme Court of Canada, former international war-crimes prosecutor, former UN human rights commissioner.
“When he retires from his post, the Governor-General of Canada will have his bank accounts subjected to heightened scrutiny. So will his parents, his spouse and his children, for the next 20 years. So, too, will the Chief Justice of Canada, all Supreme Court and appellate court judges, ambassadors, counsellors, deputy ministers, generals, past and present, and all their family members. They should expect calls from their bankers asking questions about the sources of deposits and other transactions. And if one of their children happens to have a joint account with a third party, all that would have to be explained to the bankers who are required by law to exercise such vigilance.
“Why is this happening? Because all of these people have been designated as “politically exposed domestic persons” (PEDP) under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act. Why should they be subjected to this intrusive procedure for 20 years after they leave office? No idea. And why should their children also be under this regime for 20 years? Equally puzzling.
“In fact, I can think of an answer. It’s because all this was put in place with no one having any idea it was happening. This is hardly surprising given that it was buried in the massive omnibus budget bill of 2014 known as Bill C-31. Equally troubling, most people wouldn’t care anyway…”
Full article: http://www.theglobeandmail.com/globe-debate/caught-in-a-useless-bureaucratic-nightmare/article26813887/
@NorthernShrike
People keep yakking about terrorists… they should lose their citizenship… not understanding… u are handing gov’t a pass to take away citizenship on a wrong the gov’t decides…. what if u protest something… in a civil manner… either in court or out…. gov’t wants to shut u the heck up… man in the office… not court… decides… no recourse if they decide u are bad for Canada… we all know that the gov’t is 100% right all the time… Just in case someone misses my sarcasm… that is what the last sentence is…
I find this thread more worrisome than anything else. Because it seems to be that the lack of privacy is becoming the new norm.
http://www.wsj.com/articles/fatca-crushes-minnows-the-sharks-do-better-1444941380
They’ve published some letters from some ‘US persons’ unhappy with FATCA.
@US_Foreign_Person
I am interested in what you have to say, but I am afraid you must perhaps slow down and spell it out a bit more clearly for my sake. As it is, I regret that don’t understand you.
If anyone wants to read the WSJ letters the Google search link works, just click on google and then click on the article.
https://www.google.co.uk/search?hl=en&gl=uk&tbm=nws&authuser=0&q=fatca&oq=fatca&gs_l=news-cc.3..43j0l9j43i53.3705.5003.0.5100.5.4.0.1.1.0.103.331.3j1.4.0…0.0…1ac.1.cEjE6F0vFzk
“Could Canada make people stateless?”
Yes. To the best of my understanding I’m eligible for Japanese citizenship, though I have no wish nor intention to apply for it. Canada could denaturalize me because of that eligibility. I guess Japan would deport me to Canada if that happens.
The US needs to have another civil war.
Taxpayer Advocate
http://lawprofessors.typepad.com/intfinlaw/2015/07/taxpayer-advocate-fatca-imposes-unnecessary-burdens-will-not-improve-compliance.html
v.
TIGTA
http://www.tax-news.com/news/Rare_Praise_For_IRS_For_FATCA_Work____69423.html
What will happen when refugees immigrate to Canada? Supporters of Taxpayer Advocate will be treated as terrorists by TIGTA, and supporters of TIGTA will be treated as terrorists by Taxpayer Advocate. No matter who wins, Canada will denaturalize them.