Banks in Ukraine may be required to disclose banking secrecy and personal data of clients upon police request

Ukrainian banks may be required to disclose banking secrecy and clients’ personal data upon request from the police. The relevant provision was added to bill 11043 before its second reading.

The vote in the Verkhovna Rada is expected to take place soon, reports the “Judicial-Legal Newspaper.”

A request from the police may be made if a payment transaction contains signs of a criminal offense.

The bill has been criticized by the Main Legal Department of Parliament. They believe it violates the Constitution.

“It is unclear how the payment service provider will determine if a transaction contains signs of a criminal offense,” the department says.

They also added that the grounds for submitting such a request to the police are not limited, even though it involves an extremely wide range of information.

It should be noted that banks may start requiring Ukrainians to provide salary statements and tax declarations to confirm their income.

Previously, the NBU introduced four new restrictions for Ukrainians’ card transactions.