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    The CRS Regulations

    The Common Reporting Standard (CRS) is an information standard for the Automatic Exchange Of Information (AEOI) regarding bank accounts on a global level, between tax authorities, which the Organisation for Economic Co-operation and Development (OECD) developed in 2014. Its purpose is to combat tax evasion.
    However, FATCA focuses only on tax evasion by US Persons, whilst CRS targets offshore tax evasion based on an account holder's country (or countries) of tax residence.