Open Access Research Article
SURVEILLANCE VS. SECRECY: EVALUATING LEGISLATIVE ACCESS TO BANK RECORDS AND FINANCIAL PRIVACY IN INDIA
Abstract
The practice of banker-customer confidentiality lies at its core. Financial statements, naturally,
reveal a lot about a client's finances,
their transaction past, who their
beneficiaries are, and how
they spend their money. But this obligation of confidentiality is not without
exceptions, and there are legal and conventional ones. The existing regulation
requires banks to provide state authorities and regulators with private
financial information for certain purposes, including banking supervision, tax
examinations and money laundering prevention and control. It provides public
agencies with access to be used for lawful enforcement purposes, but raises
significant questions about the legitimate scope of governmental authority and
misuse of private consumer information. This paper looks at how the Indian
legal system struggles to balance government investigations with a citizen's right to bank privacy. In the end, it questions the effectiveness of the statutory restrictions in meeting the constitutional standards
of legality and
proportionality in a situation where the state requests that customers' data be
shared.
Published Paper
Author Details
Authors: JASMINE KERAIRegistration ID: 1013509 | Published Paper ID: IJLRA13509Approved ISSN: 2582-6433 | Country: Delhi, India
Article Information
SURVEILLANCE VS. SECRECY: EVALUATING LEGISLATIVE ACCESS TO BANK RECORDS AND FINANCIAL PRIVACY IN INDIA
Authors: JASMINE KERAI
- Journal IJLRA
- ISSN 2582-6433
- Volume 3
- Issue 7
About Journal
International Journal for Legal Research and Analysis
- AbbreviationIJLRA
- ISSN2582-6433
- AccessOpen Access
- LicenseCC 4.0
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