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LAW No. 202
of 06 October 2017
on banking activity

Published: 15 December 2017 in the Official Gazette No. 434–439, Art. 727
AMENDED

LP No. 144 of 19.06.2025, OG No. 328/20.06.2025, Art. 374; in force as of 20.09.2025

Article 96. Obligation to maintain confidentiality

(1) A bank is obliged to maintain confidentiality with regard to all facts, data, and information relating to its activity, as well as any facts, data, or information at its disposal relating to the person, assets, activity, business, personal or business relations of the bank’s clients, or information relating to clients’ accounts (balances, turnovers, transactions carried out), transactions concluded by clients, as well as other information about clients that has become known to it, except for information that is published or may be disclosed pursuant to this law.

(2) For the purposes of this chapter, the information provided for in paragraph (1) constitutes banking secrecy.

(3) Members of the management bodies and employees of the bank, persons acting on behalf of the bank, and other persons who, by virtue of performing their official duties, have obtained access to the information provided for in paragraph (1), are obliged to maintain banking secrecy and not to use such information for purposes other than official ones. This obligation continues to apply even after the termination of the activity of the above-mentioned persons or during the period of suspension of their activity.

(4) The bank is prohibited from disclosing information relating to the clients of another bank, even if their name/designation is indicated in the documents and contracts of the client or appears within the framework of that client’s transactions.

(5) The bank shall organize its activity in such a way that members of the management bodies, employees, and persons acting on its behalf are not placed in situations where their obligations toward one client conflict with their obligations toward another client or where their own interests conflict with their obligations toward a client.