China (CN)

Jurisdiction Overview

IDQuestionAnswer
360 *Are there criminal sanctions, custodial sentencing or any other statutory sanctions for breaches of banking secrecy? Yes, there are prison terms for disclosing client's banking data to any third party (and possibly fines).
 Data Date: 2011

Notes

 
Art. 253-A of China's Criminal Law states: "Where any staff member of a state organ or an entity in such a field as finance, telecommunications, transportation, education or medical treatment, in violation of the state provisions, sells or illegally provides personal information on citizens, which is obtained during the organ’s or entity’s performance of duties or provision of services, to others shall, if the circumstances are serious, be sentenced to fixed-term imprisonment not more than three years or criminal detention, and/or be fined. Whoever illegally obtains the aforesaid information by stealing or any other means shall, if the circumstances are serious, be punished under the preceding paragraph".
 
In addition, According to article 84 of the Law of the People's Republic of China on Commercial Banks, "If employees of a commercial bank disclose State or business secrets that they come to know during their employment, disciplinary measures shall be taken against them. If a crime is constituted, criminal responsibility shall be pursued according to law". According to article 219 of the Criminal Law, "Whoever commits any of the following acts of infringing on business secrets and thus causes heavy losses to the obligee shall be sentenced to fixed-term imprisonment of not more than three years or criminal detention and shall also, or shall only, be fined; if the consequences are especially serious, he shall be sentenced to fixed-term imprisonment of not less than three years but not more than seven years and shall also be fined". According to section 2 of article 48 and section 11 of article 129 of The Banking Act, a fine between NTD 2 to 10 million dollars is imposed.

Sources

https://www.cecc.gov/resources/legal-provisions/criminal-law-of-the-peoples-republic-of-china
 
GF 2013
 
http://cn.swisscham.org/sites/default/files/110713_Banking_in_China_and_Switzerland_EN_.pdf
 
Art. 253-A of China's Criminal Law
 
https://www.microfinancegateway.org/sites/default/files/mfg-en-paper-law-of-the-peoples-republic-of-china-on-commercial-banks-may-1995.pdf