Finantsinspektsioon has fined AS SEB Pank

18/09/2020

Finantsinspektsioon fined SEB Pank 20,000 euros for disclosing banking secrets. The bank disclosed the bank account statement of a private person to a third party during bankruptcy proceedings without a legal basis for doing so, and in so doing committed a misdemeanour.

By doing this, AS SEB Pank was in breach of §134¹⁰(2) of the Credit Institutions Act. Under this clause the illegal disclosure of banking secrets concerning a manager, employee or other person working for the benefit of a credit institution may incur a fine of up to 32,000 euros if it was done by the legal entity.

This press release is issued under § 103 (4) of the Credit Institutions Act and § 54 (5) of the Financial Supervision Authority Act.

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