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Americans Moving Swiss Cash to Asia Face Scrutiny, Lawyers Say

Caplin & Drysdale Chartered’s Washington-based lawyers H. David Rosenbloom and Scott D. Michel comment on U.S. authorities’ focus on funds held by Americans in Singapore and Hong Kong.

They also talk about agreements between U.S. and Asian governments to share tax information of individuals, instead of non-U.S. financial institutions directly reporting American client details to U.S. tax authorities under the Foreign Account Tax Compliance Act.