THE report, "The Road to FATCA," published by Fenergo, has revealed that 65% of foreign financial institutions (FFIs) are struggling to complete the client identification process required under the provisions of the Foreign Account Tax Compliance Act (FATCA).

According to the Report, the major impact of FATCA will be in the area of customer due diligence or know your customer processes. A huge 79% of FFIs expects FATCA to impact their processes, which would have to be rewritten or amended.