Martin, are you Serious?
So if I have given the bank 5 phone numbers, each in different country, am I, only because of that, going to be reported to 5 different jurisdicitions?
It sounds unreasonable and will cause a huge mess all around the world for people to justify their tax residency.
I have no doubt that either what you wrote is happening for people that didn’t do the self-certification form or people the bank cannot trace (call/email/post) for any kind of reason or maybe to old and small balance accounts.
I believe the Indicia search is the last resort of the bank as the bank must report to someone. If you filled a self certification form with a proof of address it should be fine (otherwise, why the bank is asking you to sign in the first place?)
So if I have given the bank 5 phone numbers, each in different country, am I, only because of that, going to be reported to 5 different jurisdicitions?
It sounds unreasonable and will cause a huge mess all around the world for people to justify their tax residency.
I have no doubt that either what you wrote is happening for people that didn’t do the self-certification form or people the bank cannot trace (call/email/post) for any kind of reason or maybe to old and small balance accounts.
I believe the Indicia search is the last resort of the bank as the bank must report to someone. If you filled a self certification form with a proof of address it should be fine (otherwise, why the bank is asking you to sign in the first place?)