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

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-- 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 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-- 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 European Union / Christian Hofmann -- 8. Hong Kong / Stefan Gannon -- 9. Japan / Reiko Omachi -- 10. Singapore / Sandra Booysen -- 11. Switzerland / Peter Nobel And Beat Braendli -- 12. United Kingdom / Keith Stanton -- 13. United States Of America / Lissa Broome -- 14. Conclusion / Sandra Booysen. [edited By] Sandra Booysen, National University Of Singapore ; Dora Neo, National University Of Singapore. Includes Bibliographical References And Index. A book for lawyers, bank counsel, policymakers, academics and students seeking a holistic understanding of a bank's duty to keep customers' information confidential and the conflicting right or duty to disclose information. It offers critical analysis and highlights problematic areas in privacy, data protection, conflict of laws and exchange of information.