As reported by Finews, the USlaw firm Latham & Watkins sees Hong Kong and Singapore being the next target for the USA to track down US tax payers. The firm estimates that from the $350bn that ‘disappeared’ from the Swiss banks in the recent years probably $250bn went offshore and $100bn was paid in fine and tax arrears.

The IRS and the DoJ will use the information received from Switzerland to trail the flows of US undeclared funds to further offshore banking locations. This was already hinted by K. Keneally, former head of the tax division of the US Department of Justice (DoJ).

There seem to be a similar project as the US Program on the way for Hong Kong and Singapore.