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Can Banks Still Keep a Secret?: Bank Secrecy in Financial Centres Around the World

Can Banks Still Keep a Secret?: Bank Secrecy in Financial Centres Around the World

Author: Sandra Booysen; Dora Neo
Publisher: Cambridge University Press
ISBN: 9781107145146

Published In: June 2017
Format: Hardback
Jurisdiction: U.K. ? Disclaimer:
Countri(es) stated herein are used as reference only
Paperback Edition ISBN: 9781316508473

List Price: HKD 1,092.00

HKD 1,059.24 Save HKD 32.76 (3%)

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The duty to keep customer information confidential affects banks on a daily basis. Bank secrecy regimes around the world differ and multi-national banks can find themselves in conflicted positions with a duty to protect information in one jurisdiction and a duty to disclose it in another. This problem has been heightened by the international trend promoting information disclosure in order to combat tax evasion, money laundering and terrorist financing. The US Foreign Account Tax Compliance Act (FATCA) is perhaps the most well-known. At the same time, data protection legislation is proliferating around the world.

This book offers a holistic treatment of bank secrecy in major financial jurisdictions around the world, east and west, by jurisdictional experts as well as chapters by subject specialists covering the related areas of confidentiality in its broader privacy context, data protection, conflicts of laws, and exchange of information for the purposes of combatting international crime.

Foreword

Part I. Bank Secrecy in Context:

1. A conceptual overview of bank secrecy Dora Neo

2. Bankers' duties and data privacy principles: global trends, and Asia-Pacific comparisons Graham Greenleaf and Alan Tyree

3. Bank secrecy and the variable intensity of the conflict of laws Chris Hare

4. The international pressures on banks to disclose information Chizu Nakajima

5. International developments in exchange of tax information Martha O'Brien

Part II. Bank Secrecy in Financial Centres around the World:

6. China Wang Wei

7. Germany, with references to the EU Christian Hofmann

8. Hong Kong Stefan Gannon

9. Japan Reiko Omachi