US legislation requiring foreign financial institutions to identify and report accounts held by US persons to the IRS, or face a 30% withholding tax — effectively exporting US tax compliance requirements globally.
Category: compliance. Part of the Identity Technologist Glossary — 158+ practitioner-grade definitions covering identity verification, KYC/AML, biometrics, fraud prevention, and compliance. See all terms at https://identitytechnologist.com/glossary.