bank secrecy

Definition

One of the conditions of the relationship between a bank and its customers is that the customers' dealings and financial affairs will be treated as confidential. This rule, however, does not apply to the customers' credit information which is shared rather freely among lending institutions. Also, due to certain laws (such as anti-terrorist and anti drug-trade legislation) and tax treaties between nations, banks must release specific information to help fight terrorism and illegal drug trade, and prevent tax-evasion and money laundering.

单词	bank secrecy
释义	bank secrecy Definition One of the conditions of the relationship between a bank and its customers is that the customers' dealings and financial affairs will be treated as confidential. This rule, however, does not apply to the customers' credit information which is shared rather freely among lending institutions. Also, due to certain laws (such as anti-terrorist and anti drug-trade legislation) and tax treaties between nations, banks must release specific information to help fight terrorism and illegal drug trade, and prevent tax-evasion and money laundering.
随便看	uniform resource locator (URL) uniform rules for collections (URC) uniform rules for demand guarantees (URDG) Uniform Securities Act Uniform Securities Agent State Law Examination uniform simultaneous death act Uniform Standards of Professional Appraisal Practice (USPAP) unilateral unilateral change unilateral contract unilateral mistake unilateral relief unilateral transfers unimodal distribution unincorporated business uninsurable peril uninsurable risk uninsured motorist coverage uninsured motorists uninsured plan unintended consequences uninterrupted flight uninterruptible power supply (UPS) union union classification