'Yet' is the key word for me as well; I think I might be able to float under its radar a bit using my British passport to open accounts, but my place of birth is still in the States, and everybody knows the US's anchor baby law (when looking for information about FATCA, I read a number of horror stories about Canadians born in border hospitals in the States with otherwise 0 ties to the US being chased after for this stuff).
Currently I fly under the radar by making sure anything important is in my husband's name.
And yea, I've heard horror stories about the latent US citizens too. I just wonder how much profit the government is really making going after average people who didn't know they were a US citizen. After all is said and done, everything and everyone involved in the investigation is paid off, it's probably only pennies on the dollar.
It's also the same thing when it comes to my taxes. I haven't had to pay taxes once since moving to the NL, but how much money is wasted on going through the tax forms and processing it? How much money does the IRS really get from expats in the end vs costs, especially from the NL since wages are so much lower here compared to the US. If you were in IT and making $120k a year in the US, you can expect maybe 60k euro over here. That doesn't even come close to the exclusion limit these days.
Our government really doesn't make sense most of the time.