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Armenian law-enforcement bodies' access to banking secrecy expands

22.01.2020 18:18

Armenian law-enforcement bodies' access to banking secrecy expands

YEREVAN, January 22. /ARKA/. Armenia's National Assembly has approved today in the second and final reading a set of amendments to the laws on criminal procedure and on bank secrecy. Before coming into force they need to be signed into law by the president of the country.

Under the current law, Armenian banks are required to provide tax and law-enforcement authorities with information about financial accounts of only those clients who are accused or suspected of certain crimes. Besides, investigators need permission from prosecutors and courts before demanding access to such data. According to the Minister of Justice Rustam Badasyan, the law in its current form prevent criminal investigations into bribery and other corrupt practices.

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