According to the Wall Street Journal, ‘criminal investigators at the IRS are probing whether a Singapore asset-management firm accepted transfers from undeclared Swiss accounts closed by US taxpayers’. The US crackdown on undeclared offshore accounts began in Switzerland in 2009 and is now expanding eastward, notably Singapore. Armed with what is referred to as the ‘leavers list’, i.e. a list of people who closed offshore accounts in Switzerland and moved their assets, the Internal Revenue Service is reviewing the details about transfers from closed accounts. Currently, more than 100 banks and other financial firms in Switzerland are providing such information to the US with the framework of the US Tax Program, an agreement signed in August 2013.