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hi Iamp;#39;m Don Rue Iamp;#39;m a part of the Oracle Financial Services Global business unit covering the financial crime and compliance management facca stands for foreign account tax compliance act it was um it was made itamp;#39;s a U.S regulation that was announced early in 2010 as a part of an act called higher itamp;#39;s a group of different types of laws and regulations to increase jobs as well as increase tax revenue obviously itamp;#39;s very well known that in the U.S government as well as many other foreign governments are in fact facing a very tough fiscal time and the goal effect is to ultimately raise approximately 10 billion dollars over the next 10 years in tax additional tax revenue from people whoamp;#39;ve been hiding taxes overseas the regulation stipulates All Foreign financial institutions to the US to report the account balance as well as certain other account related information for U.S taxpayers on an annual basis so what makes the U.S fact co-regulatio
