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Warren Whitaker looks at the future of international private banking after the Foreign Account Tax Compliance Act (FATCA), in a June 2013 article for Financier Worldwide. He writes, "While we are not yet at the point where a client who opens a financial account anywhere in the world must provide a global identification number so that the data can be automatically shared with every relevant taxing jurisdiction, we are clearly headed in that direction." He goes on to review likely changes to international private banking in the areas of compliance, tax planning, investment performance and fees, and client service.
