The National Bank of Ukraine opposes opening of banking secrecy for tax authorities.
This was reported by URA-Inform with reference to the NBU.
The regulator believes that uncontrolled and unlimited access to such information is unacceptable.
“The National Bank denies providing uncontrolled and unlimited extra-judicial access to banking secrecy for any body. By court decision, law enforcement and tax authorities may gain access to information containing banking secrecy, but to do so they must provide arguments for the validity, appropriateness and existence of grounds for obtaining such information, which is an important safeguard for limiting the access of control bodies to private information about an individual,” the statement says.
As noted by the National Bank, any unjustified expansion of access to banking information threatens the fundamental rights of citizens and is contrary to European values. In addition, in the European Union, of which Ukraine seeks to become a full member, the protection of private property, in particular personal financial data, is an integral part of the rule of law.
Therefore, in order to comply with the current EU requirements for the exchange of confidential information in the banking sector, our country is bringing its legislation closer to EU practice and improving the legal protection of personal data and banking secrecy.
“The importance of the institution of banking secrecy is no less important than the principle of the presumption of innocence defined in the Constitution, which forms the foundation of trust in society. The National Bank each time emphasizes the absolute importance of maintaining the institution of banking secrecy in order to ensure the protection of confidential information about bank clients, essentially their own confidential information, in order to maintain trust in the banking system at a high level,” added Andriy Pyshny, Chairman of the National Bank of Ukraine.
Recall that it was previously reported that some Ukrainians have not yet received the “Zelensky thousand”: when will the funds be credited.
