The law expands the list of grounds for disclosing bank secrecy.
Ukrainian President Volodymyr Zelensky signed Law No. 4174-IX, expanding the possibilities for disclosing banking secrecy. According to new amendments to the Law “On Banks and Banking Activities”, notaries will now have additional rights to obtain banking information about the property of missing persons.
This became known from the website of the Verkhovna Rada.
According to the new rules, notaries will be able to obtain information about:
- the presence of accounts, deposits or electronic wallets of individuals;
- the balance of funds, electronic money or banking metals in accounts;
- information on movable property stored or pledged by the bank;
- the existence of lease agreements for individual bank safes;
- escrow accounts and funds in them intended for beneficiaries.
This information will be provided to protect the property of persons declared missing by the court, allowing the family to legally deal with this property.
The law also allows notaries, local government officials and consular offices to receive banking information. This will be done for the purpose of protecting inherited property.
This concerns, in particular, the issuance of a certificate of inheritance or ownership of a share in the joint property of spouses based on a corresponding application or in the event of the death of one of the spouses.
We remind you that banking secrecy and the protection of personal data of Ukrainians liable for military service may be at risk, since the Tax and Migration Services will soon be able to provide this information to the TCC and SP.
