The NBU is against uncontrolled and unlimited extrajudicial access to banking secrecy
The NBU commented on the procedure for possible access to banking secrecy.
The NBU commented on the procedure for possible access to banking secrecy.
«We are going to the European Union. There is practice there, requirements for combating legalization and tax evasion, but nowhere is there unlimited access to banking secrecy,» said Andriy Pyshny, chairman of the National Bank of Ukraine, in an interview with Forbes.
According to him, it cannot be said that banking data will be disclosed in an uncontrolled and unregulated volume. Commenting on the possible abolition of banking secrecy and disclosure of data to Ukrainian tax authorities, which was announced in January by Finance Minister Serhiy Marchenko, the NBU chairman noted that the bank is ready to discuss the procedure and regulations. However, Andriy Pyshny said that the NBU cannot agree to uncontrolled and unlimited extrajudicial access to banking secrecy for any body. «The appropriate procedure must be followed,» he added.
Andriy Pyshny also emphasized that it is still too early to talk about the details of the regulation, because interagency interaction with law enforcement and tax authorities, deputies, and other government bodies is taking place.
«We clearly position that banking secrecy is a fundamental institution, no less important than the presumption of innocence,» the NBU chairman noted.
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