Banking Secrecy and Legal Liability for its Disclosure
Protection of banking secrecy is one of the key aspects of the financial stability of the state, ensuring citizens’ trust in the banking system. In civil law, banking secrecy is considered as an element of protecting privacy and protecting property rights, which are enshrined in the Constitution of Ukraine and the Civil Code of Ukraine. However, in the context of combating financial crimes and corruption, the state is forced to look for mechanisms to control financial flows, which sometimes requires the disclosure of banking information.