bank secrecy
Hidden account information
Bank secrecy is the legal protection of financial information from disclosure.
Banks in jurisdictions with strong secrecy laws—Switzerland being the most famous—cannot reveal account details without the customer's consent or a court order.
The phrase often carries connotations of tax evasion and hidden wealth: The investigation focused on bank secrecy havens in the Caribbean.
- confidentiality lawsRules requiring information secrecy
- privacy rightsEntitlement to personal seclusion
- financial privacyProtected personal money information
- client confidentialityDuty protecting shared information
- numbered accountsBank holdings identified numerically
data protection · OECD guidelines · tax havens · black money · dark money · tax evasion · moral dilemmas · international cooperation · non-disclosure agreements · hidden assets · international treaties · fiduciary duty · Panama Papers · offshore accounts · shell companies · internal audits · regulatory oversight · whistleblowers
- financial secrecynumbered accounts, offshore accounts, financial privacy, confidentiality, hidden assets
- banking regulationFDIC, capital requirements, regulatory agencies, AML, fair lending
- LaunderingAML, money laundering, dirty money, black money, placement
- bankingATM, ATMs, account, accounts, deposit
- SwitzerlandBern, Geneva, Zurich, Basel, Lausanne
- privacyprivacy, private, seclusion, confidentiality, solitude
bank secrecyfinancial transparency
Open disclosure of monetary dealings
open banking · financial disclosure · mandatory reporting · data sharing · public disclosure
bank secrecyfinancial regulation
Laws governing monetary institutions
banking oversight · public accountability · financial accountability · government oversight · whistleblower protections
bank, banks, banked, banking, banker, bankers, secret, secrets, secrecy