US Tax Deal Jeopardizes Canadians’ Privacy
After protracted negotiations (FATCA was introduced in 2010), Ottawa allows the long arm of Uncle Sam access to personal financial information of Canadians deemed to be "U.S. persons" in this country, something that should be alarming in an era of NSA spying and telecom information gathering for governments.
It is a deal which imperils the privacy of up to a million Canadians and creates a two-tier level of citizenship in this country, discriminating against citizens based on their ethnic origin.
"Canada is getting nothing in return for its privacy giveaway, other than relief of the threatened economic sanctions," says Arthur Cockfield, a Queen's University law professor who recently testified before the Commons finance committee.
Editor's Note: For the story of a Canadian woman who could have her life ruined because of FATCA see here.