Rabobank and ING have blocked the accounts of dozens of Dutch American account holders who are taxable in the US, according to media reports.

It is thought the accounts have been blocked because they have not received a reply to a FATCA letter.

Daan Durlacher, co-founder of interest group Americans Overseas, has received several reports a day in recent months, largely from customers of ABN AMRO, ING and Rabobank.

He described the situation as “blackmail with your own money".

“It is outrageous that a bank can and must do this to come into contact with customers."

However, David Treitel, ...