banking secrecy

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.

In the article the problem of banking secrecy in the European Union in the context of the international system of exchange of information of a financial nature directed at countering terrorist financing and money laundering illegally obtained. From the standpoint of information law deals with theoretical aspects of national legislation on banking secrecy and the introduction of a single global standard for automatic exchange of information about income taxpayers.