Asia private banks get US amnesty warning

Private banks in Asia could well be next under the spotlight as US authorities step up their campaign to clamp down on tax avoidance, according to Latham & Watkins. The US law firm hosted a press conference yesterday in Hong Kong, the Asian city which along with Singapore is believed to be at the forefront of closer scrutiny as the US taxman follows the money trail, chiefly from private banks in Switzerland. “I think it is reasonable to expect that places [in Asia] with part…