Privacy is a sacred human right (but) there are people in the world who do not understand that.” Ramon Fonseca, a founder of the hacked Panama law firm, has said, “We believe there’s an international campaign against privacy. Notable holdouts include Panama, Lebanon and Bahrain. The G20 and OECD are even threatening to blacklist and sanction countries that don’t sign up for their privacy-killing scheme. If countries widely adopt it, GATCA will deliver the final deathblow to financial privacy. law, FATCA, which forces every financial institution on earth to give the IRS information. GATCA is a new “global standard” for the automatic exchange of financial information between governments. They later leaked 11.5 million documents.Īlmost immediately, central economic planners at the G20 and OECD-international organizations of the world’s largest economies-took advantage of the “Panama Papers” incident to shove GATCA down the world’s throat. You’ve likely heard that unknown hackers recently attacked Mossack Fonseca, a law firm in Panama that helps people set up offshore companies and bank accounts.
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