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Data commissioner criticizes CB

21/10/2015 12:21
The Central Bank must deliver data on persons relating to deposit outflows, to the commissioner of taxation, said the new commissioner of personal data protection Irene Loizidou Nicolaidou, criticizing the banking authority’s attitude.

The CB refuses to deliver this information to the tax department to determine whether there are any cases of tax evasion, citing banking secrecy.

During the presentation of the office’s budget at the parliamentary committee on Finance, following questions submitted by MPs regarding CB allegations for banking secrecy, Mrs. Loizidou noted that there is a file interconnection.

She said that information by banks cannot be refused, adding that "there is information that is given and certainly it cannot be refused."

Moreover, she already had a meeting with the chairman of the banks association regarding this issue.

According to the new commissioner, when there is a suspicion for criminal offenses, banking secrecy is lifted.