The government is digging into Ukrainians pockets: the State Tax Service will gain access to citizens’ personal banking data

The Cabinet of Ministers of Ukraine has approved a controversial bill initiated by the State Tax Service, which significantly expands the powers of tax authorities and opens the door to government intrusion into citizens’ personal financial lives.

According to the bill, the State Tax Service (STS) will gain full access to the registry of personal bank accounts and individual safe deposit boxes. This decision has raised serious concerns among experts and human rights advocates, as it would centralize sensitive financial data in the hands of a government agency known for its aggressive pressure tactics on both businesses and individuals.

Under the pretext of aligning with EU standards and preparing for integration into the SEPA (Single Euro Payments Area), the authorities are essentially launching a surveillance mechanism for every citizen with a bank account or safe deposit box.

The registry will contain:

• The full name of the account or box holder,

• IBAN number,

• The institution where the account or box is held,

• The contract number and date.

It will not include current balances or box contents, but many experts believe this is just the first step toward dismantling banking secrecy entirely.

The bill also includes the creation of a database of ultimate beneficial owners of trusts and legal entities, giving the STS even greater control over business structures and the ability to apply punitive measures for even minor violations.

In addition, the document introduces a “whistleblower” mechanism in the area of financial monitoring, which critics warn could encourage abuse and denunciation, and it broadens the range of entities subject to financial scrutiny—including dealers in cultural assets and trust administrators.

Essentially, this move by the government is seen as a step toward a financial surveillance regime, veiled in the language of European integration. While European countries value personal freedom and financial privacy, in Ukraine these ideals are increasingly becoming mere window dressing for expanding state control.

Previously, representatives of the State Tax Service had already expressed interest in gaining access to banking secrecy. It now appears that this plan is being implemented with the silent approval of the government.