The foreign banks partially or fully refuse from the bank secrecy. Ukraine can also do it as per EU request, the economic expert Andrei Novak told, finance.ua reports.
“Abroad, the refusal from bank secrecy is explained logically – it is the fight against the black capital, which is acquired starting from the wars in the whole world, terrorism, illegal arms trade, drugs, and ending with corruption money of politicians and businesspersons. The general global trend on limiting or full cancellation of the banking secrecy is reasoned by the fight against black and grey money. Ukraine, whether it wants it or not, will have to follow this global trend. The other question is – at what pace?” he noted.
Despite the opposition of national politicians and the desire to delay cancellation of the bank secrecy, the process will sooner or later be launched, the expert considers.
“I think that it will be one of the requirements to Ukraine and Ukrainian banks, when the country will become the member state of the European Union. Because namely the European countries and U.S. are also the locomotives of the trend of partial cancellation or full restriction of the bank secrecy”, Novak summarized.
