Expat Chat Episode 118 - Why You Need to Respond to Your Bank about Identification

Expat Chat Podcast

Welcome to the one hundred and eighteenth episode of the #Expatchat podcast where we discuss the latest tax and financial issues affecting an #Australianexpat. In today’s Expat Chat we talk about why Australian expats need to respond to the banks in Australia when they ask for identification. Many Australian banks are emailing their customers, including Australian expats overseas, asking for them to verify themselves by providing documents to verify their identity. Unfortunately in today's age where cyber crime is rife people are chosing to ignore these emails or alternatively don't believe they have to provide these documents which unfortunately leads to their account being locked. A raft of legislation has been passed by governments around the world that now makes it a legal requirement for banks and financial services companies to request this information in order to combat money laundering and terrorism financing. In this episode we run through the following topics: • Why do they want these documents? • What is the common reporting standard (CRS)? • How do I ensure the request is legitimite? Links that we discussed in this episode include: • Upcoming events - https://atlaswealth.com/events • Facebook Group - Australian Expat Financial Forum Facebook Group - https://www.facebook.com/groups/Australianexpatfinancialforum • Ask Atlas - Have your questions answered on the podcast by clicking this link - https://atlaswealth.com/news-media/australian-expat-podcasts/questions-or-feedback-for-the-expat-podcast/ • Expat Mortgage Podcast - https://atlaswealth.com/news-media/australian-expat-podcasts/expat-mortgage-podcast/ If you like the content make sure you let us know by hitting the thumbs up and subscribing as well as providing some feedback in the comments below. Atlas Wealth Management is a specialist in providing tax financial planning advice to every Australian #expat. Whether you are based in Asia, the Middle East, Europe or the Americas, we have the experience in providing wealth management and planning services to the expatriate community. Atlas Wealth Management was born out of the demand from expats who wanted a financial adviser to help them navigate the tax and financial maze of living abroad as well as assisting them make the most out of their time overseas. To find out more about Atlas Wealth Management and how we can help Australian expats please go to https://www.atlaswealth.com. Make sure you connect with us on our respective social media channels: Facebook: www.facebook.com/atlaswealthmgmt LinkedIn: www.linkedin.com/company/atlas-wealth-management Twitter: www.twitter.com/atlaswealthmgmt Instagram: www.instagram.com/atlaswealthmgmt