Comparative Criminal Jurisprudence

Comparative Criminal Jurisprudence

Exceptions to the Principle of Bank Secrecy and Its Role in Preventing Financial and Banking Crimes in Iranian and American Law

Document Type : Original Article

Authors
Hamed Haghrezaei 1
Mehdi Meyhamy 2
Esmaeil Shahsavandi 3
1 PhD Student of Private Law, North Tehran Branch, Islamic Azad University, Tehran, Iran.
2 Assistant Professor, Department of Private Law, North Tehran Branch, Islamic Azad University, Tehran, Iran. (Corresponding Author)
3 Assistant Professor, Department of Private Law, North Tehran Branch, Islamic Azad University, Tehran, Iran.
10.22034/jccj.2024.429495.1441
Abstract
The principle of banking secrecy is one of the important issues that guarantees the reliability of banks and financial institutions. Nevertheless, the aforementioned principle as a fixed and stable law in all banking systems both at the domestic level of the countries and at the international level has exceptions, at the domestic level of the countries according to the severity and weakness of secrecy of the exceptions in each country. It is usually different from the other. The purpose of this article is to examine the exceptions to the principle of banking secrecy and its role in preventing financial and banking crimes in Iranian and American law. The following article is descriptive and analytical and has investigated the mentioned subject by using the library method. The findings indicate that in Iranian law, the exceptions to the principle of bank secrecy include the customer's consent to the disclosure of bank secrets, as well as the exceptions included in the discussion of lawsuits and civil proceedings, exceptions related to the detection of crimes and evidence of crime, exceptions related to tax discussions. There are also exceptions to bank secrecy in American law, one of the most important of which is the Anti-Terrorism and Money Laundering Act of the United States of America.
Keywords
Exceptions to the Principle of Bank Secrecy and Its Role in Preventing Financial and Banking Crimes in Iranian and American Law
Comparative Criminal Jurisprudence
Volume 3, Issue 5
Winter 2024
Pages 459-470

  • Receive Date 03 October 2023
  • Revise Date 10 December 2023
  • Accept Date 13 January 2024
  • Publish Date 20 February 2024