In case of banks in the past, and I think it was a general rule, they were obliged to send the relevant information to the authorities of their customers country of residence (if they were foreigners, nts).midoritea wrote:I was under the impression that it won't work directly like this. An UK institution will simply report to UK authorities, who in turn exchange relevant reports across borders. But I may be wrong.jarora wrote: I asked the company Payoneer (USA), EntroPay (UK), ePayments (UK), CSC24Seven (Cyprus) and all wrote that will not send any of your account information to your country.
This is a new standard though and in parts colliding with the old one. There are few ppl at the moment who know all ins and outs so the golden year of crystal ball reading ahead for accounting firms...
For everyone else it means that in situation like this no company can be held accountable for their words.