Why Anti-Money-Laundering Rules are Making International Investing Harder

Goldstein on Gelt

Anti-money-laundering rules have become stricter since 9/11, in order to stop terrorism at the financial level. How does AML (anti-money-laundering) legislation affect international investors? David Kuenzi, a certified financial planner with Thun Financial, explains why AML legislation has made opening an American brokerage account from overseas difficult. David clarifies how the Patriot Act has changed the way financial institutions do business with American citizens residing in foreign countries. While it is not illegal for an expatriate to have a financial account in the U.S., a financial institution’s perspective is much more complicated than the legality of the account. David and Doug advise how to find a cross-border advisor who can address your needs.

Are you an American citizen living abroad?

Doug has a checklist for American expatriates living in a foreign country. If you’re moving to a foreign country, learn how to keep your U.S. Ira and brokerage accounts open after you move. Download this free resource here. Download Free Resource: U.S. IRA and Brokerage Accounts Open After You Move to Israel Checklist David made his first appearance on The Goldstein on Gelt Show in late 2017 on an episode titled How Cross-Border Investors Can Manage Their Money Better. To contact David, visit his company’s website. If you’re not already receiving updates on new episodes, sign up now, and as a special bonus, receive Doug’s free ebook The Retirement Planning Book.