“The intention to limit bank secrecy is recorded in the National Income Strategy.”, – WRITE: www.unian.ua
The intention to limit bank secrecy is recorded in the National Income Strategy.
The Financial Committee of the Council recommended this document before adoption in the first reading / photo ua.depositphotos.comThe Ministry of Finance is discussing with the National Bank on restriction of banking secrecy in Ukraine, said Deputy Minister of Finance Denis Ulutin during a meeting of the Parliamentary Committee on Finance, Tax and Customs Policy. The corresponding video was posted by People’s Deputy Yaroslav Zheleznyak on Telegram.
“I will honestly tell you: yes, we are discussing with the National Bank on access to bank secrecy,” the Deputy Minister of Finance said.
According to him, it is a difficult discussion, but in the national income strategy it is written that “we have to come.”
“And this will be anyway,” Ulyutin added.
The official stated this during the discussion of the draft law on the accession of Ukraine to a single payoff zone in the euro (SEPA), which, among other things, as noted by Zheleznyak, “creates under the tax register of all bank accounts and bank safes of all citizens.” According to the People’s Deputy, the Financial Committee of the Council recommended this document for adoption in the first reading.
Ukraine’s accession to a single payment zone in euro The only euro (Sepa, Single Euro Payments Area) is the European Union initiative to integrate payments to simplify bank transfers into euros.
On April 18, 2025, the Government approved the draft Law of Ukraine “On Amendments to Certain Laws of Ukraine on Ensuring Compliance with Acts of the European Union and the relevant criteria established by the European Payment Council, with the purpose of joining Ukraine
The document aims to bring Ukrainian legislation in the field of combating income laundering and terrorism financing in line with the European one. It is noted that this is a prerequisite for securing a formal application for Ukraine’s accession to SEPA.
Accession to SEPA will allow citizens and businesses to translate into euros between European countries quickly, without additional commissions and under clearly established rules.
Bank secrecy under threatIn early January 2025, the Minister of Finance Serhiy Marchenko stated that banking secrecy in Ukraine should be abolished because it “protects thieves and criminals.”
The NBU replied that it threatened the rights of citizens and European values, and denied unlimited extrajudicial access to these accounts for any body.
According to People’s Deputy Yaroslav Zheleznyak, the Ministry of Finance has promised to remove or weaken bank secrecy in the next three years to allow tax to receive “extrajudicial access to the movement of funds in the bank accounts of taxpayers”.
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