Italy (IT)

Jurisdiction Overview

IDQuestionAnswer
360 *Are there criminal sanctions, custodial sentencing or any other statutory sanctions for breaches of banking secrecy? Unknown
 Data Date: 2017

Notes

 
According to the Global Forum: "As regards bank secrecy, whilst the Italian constitution encourages the protection of individuals and the right to confidentiality, there is no provision in Italian legislation providing for bank secrecy. Bank confidentiality is a contractual obligation between banks and their clients" (GF 2011: 60-61). Nevertheless, art 622 of the Criminal Code, determines imprisonment of up to one year or a fine of between € 30 and € 516. in cases where a person reveals professional secrecy in his/her state or office or of his profession or art. There is, however, a lack of clarity of whether this articles applies also in cases of violation of bank secrecy as well (giurisprudenzapenale.com).
 
The 2017 Global Forum report does not add any information in this regard (Gf 2017: 71)

Sources

http://www.giurisprudenzapenale.com/2014/11/23/il-segreto-professionale-codice-deontologico-forense-sviluppi-e-prospettive/
 
GF 2011: 60-61; GF 2017: 71
 
http://www.altalex.com/documents/news/2014/10/28/dei-delitti-contro-la-persona