By David Jessop, Caribbean Council via Stabroek News. The Foreign Account Tax Compliance Act, or FATCA, is one of a growing number of US laws that are extra-territorial in effect and have been introduced on the grounds of security, to counter terrorism and organized crime, or to address tax evasion. In addition to extending US jurisdiction into the Caribbean, FATCA carries with it the possibility of being used to extend the reach of US law into areas that the legislation was not primarily designed to address.