Bank secrecy

Bank secrecy (or bank privacy) is a legal requirement in some jurisdictions which prohibits banks providing to authorities personal and account information about their customers, except in certain conditions, such as if a criminal complaint has been filed. In some cases, additional privacy is provided to beneficial owners through the use of numbered bank accounts or in other ways. Bank secrecy is prevalent in certain countries such as Switzerland, Lebanon, Singapore and Luxembourg, as well as offshore banks and other tax havens under voluntary or statutory privacy provisions.