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New crowdfunding campaign challenges risks arising from FATCA

Posted on 10 September 2019

New crowdfunding campaign challenges risks arising from FATCA

Mishcon de Reya is instructed by a client who has launched a crowdfunding campaign on CrowdJustice seeking to challenge legislation which she believes breaches her fundamental rights to data protection and privacy:

FATCA & HMRC: breaching my human rights to data protection and privacyCrowdfunding to protect the fundamental rights of Accidental Americans and other compliant US citizens living abroad

Commenting on the launch of this campaign, Mishcon de Reya Partner Filippo Noseda said:

"Our client's claim demonstrates that FATCA gives rise to serious concerns about the violation of fundamental rights to data protection and privacy. Our client has no problem with measures to fight crime and tax evasion. Her issues are with the disproportionality of these measures and the breach of various fundamental data protection principles contained in the GDPR, which expose her to potential hacks and identity fraud.

"With FATCA we are seeing public authorities seeking to achieve honourable public objectives through disproportionate - and unnecessary - means. The result is the sharing of personal and financial information that is contrary to the principles of GDPR, which was introduced to give individuals back control of their data. With FATCA, there is a particular issue with sending information to a non-EEA country (the US) without appropriate safeguards – in a separate case, the European Court of Justice ruled that this was illegal."

Mishcon de Reya published a report on the debate around 'transparency versus privacy' in 2017, and has since been representing an EU national in a legal challenge to the Common Reporting Standard, as reported in the FT.

If you would like to find out more or have specific questions, please get in touch.

Related links:

The Guardian
Financial Times (subscription only)
International Advisor
The American
International Investment
Global Investigations Review
American Expat Financial News Journal
The Lawyer (subscription only)
Wealth Management


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