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June 2015Privacy & Cybersecurity Update 1USA Freedom Act Brings Changes to Surveillance Program USA Freedom Act Brings Changes to Surveillance Program The new Freedom Act changes the way the government
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The 1 usa dom act is a form used to report certain foreign financial accounts to the US government.
Any US person with a financial interest in or signature authority over foreign financial accounts exceeding certain thresholds.
The form can be filled out electronically and submitted online to the Financial Crimes Enforcement Network (FinCEN).
The purpose of the form is to combat money laundering and other financial crimes by tracking foreign financial accounts held by US persons.
Information such as the account number, name of financial institution, account balance, and maximum value during the reporting period.
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