The National Bank of Ukraine opposed granting unlimited extrajudicial access to banking secrecy for any authorities, including the tax service.
This was stated by the NBU, responding to Finance Minister Serhiy Marchenko's comments about the need to open banking secrecy to tax service employees.
The NBU emphasized that law enforcement and tax authorities can access such information only through a court decision. They must justify the necessity and appropriateness of access, which serves as an important safeguard for protecting citizens' private information.
The National Bank of Ukraine also noted that defining the boundaries of banking secrecy protection requires careful balancing between private and public interests. On one hand, there is the bank client's right to confidentiality; on the other hand, there is the need to protect public interests, such as preventing and investigating crimes.
At the same time, the NBU stressed that in the European Union, which Ukraine aspires to join, the protection of private property, particularly personal financial data, is a core component of the rule of law. Any unjustified expansion of access to banking information could threaten fundamental rights of citizens and contradict European values.
The head of the NBU added that banking secrecy is a crucial element of trust in the banking system.