Bank Secrecy

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Bank Secrecy

 

the withholding of information about the transactions, accounts, and deposits of the clients of banks and other credit institutions. Guaranteeing bank secrecy is the duty of credit institutions; they give out information about transactions, accounts, and deposits only in cases indicated in the laws. In the USSR, the proprietors of accounts (deposits), their representatives, higher organizations, and also judicial, investigatory, and financial organs (the latter only for transactions and accounts of juridical persons) have the right to such information. The regulations of banks and savings banks in the USSR stipulate that it is the obligation of the employees of these institutions to maintain secrecy concerning transactions, accounts, and deposits.

References in periodicals archive ?
The partnership between DIBCOIN and Digitas Bank offers the following benefits to account holders: (1) complete anonymous banking in any currency, (2) the ability to deposit or withdraw up to USD 100m per day, per account, (3) low pricing for retail services including wire transfers and debit/credit card deposits and (4) the DIBCARD: an anonymous debit card for everyday purchases.
According to the anonymous banking specialist, perhaps the best-kept secret in the whole affair is that restructuring loans isn't quite the daunting task it has been made out to be.
Brian Krebs, a security news and investigation blogger, reported an anonymous banking source said that "Chick-fil-A locations across the country were impacted, but that the bulk of the fraud seemed concentrated at locations in Georgia, Maryland, Pennsylvania, Texas and Virginia.