The State Financial Intelligence Service of Kyrgyzstan has requested data from all commercial banks without exception on holders of accounts and safe deposit boxes. 24.kg news agency got a copy of the document.
The letter for official use states that in order to ensure the implementation of the Law on Counteracting Financing of Terrorist Activities and Money Laundering, a standard form for the formation of a register of bank accounts and safe deposit boxes was approved.
As the Financial Intelligence Service noted, the formation of a register of bank accounts and safe deposit boxes would increase the effectiveness of the work of the service’s analysts in terms of reducing the period for collecting information from commercial banks and reduce the risks of confidential information leakage.
Banks must fill out this form absolutely on all customers and submit it to the Financial Intelligence Service.
This requirement is contrary to the Law on Banks and Banking Activities. Article 131 states that a request for the provision of information constituting a bank secrecy must contain a name of a client of the bank with indication of the limits and amount of requested information constituting bank secrecy.
In case of non-compliance of the request for the provision of information constituting bank secrecy with the requirements of this article, the bank has to refuse to provide information constituting bank secrecy.
