New bank secrecy rules to come into force in Ukraine from January

The National Bank of Ukraine (NBU) has updated bank secrecy handling rules, which are coming into force as of January 1, 2018, according to the NBU website, referring to Resolution No. 124.

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In addition, the regulator improved the procedure for disclosure by banks of bank secrecy information in electronic form, it said.

Read alsoKyiv court orders state bank to show Yanukovych's accounts (Document) The National Bank has also regulated the procedure for providing the National Anti-corruption Bureau of Ukraine (NABU) and private executors with information subject to bank privacy.

Moreover, the central bank addressed the issue of the use of stamps due to entry into force of Ukraine's law on amendments to several legislative acts of Ukraine on the use of stamps by legal entities and individual entrepreneurs.

UNIAN memo. Information on clients' activities and financial status, which has become known to a bank, shall be handled as bank secrecy under to the Law of Ukraine on Banks and Banking. A special procedure for storage and disclosure of such information is envisaged.

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