SOURCE: EastNets


September 10, 2013 09:35 ET

EastNets to Focus on FATCA and Single Euro Payment Area at Sibos 2013

NEW YORK, NY and DUBAI, UNITED ARAB EMIRATES--(Marketwired - Sep 10, 2013) - EastNets, a leading global provider of compliance and payments solutions and services, has revealed that it will be conducting two key sessions during this year's Sibos, the world's premier financial services event running from September 16 to 19, 2013 at the Dubai World Trade Centre.

On the first day of Sibos 2013, EastNets will hold an Open Theatre Session to explain how foreign financial institutions can overcome the technical challenges behind the US Foreign Accounts Tax Compliance Act or FATCA. The Act came into effect in January 2013 and is part of efforts by the US Government to prevent offshore tax evasion. 

On the last day of the conference, EastNets will talk about strategies for leveraging the Single Euro Payments Area or SEPA framework for the optimization of euro payments outside of Europe. SEPA is a payment-integration initiative of the European Union (EU) that streamlines bank transfers denominated in euros. It covers all 28 EU member states plus the four members of the European Free Trade Association and Monaco.

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