Netherlands (NL)

Jurisdiction Overview

IDQuestionAnswer
360 *Are there criminal sanctions, custodial sentencing or any other statutory sanctions for breaches of banking secrecy? Yes, there are fines for disclosing client's banking data to any third party, but no prison terms.
 Data Date: 2019

Notes

 
According to Netherlands' Ministry of Finance, to protect banking secrecy, the law / regulation determines a maximum fine of EUR 820.000 as per article 66 of the Law for the protection of personal information (TJN Survey-2017). The 2019 Global Forum report does not add any information (GF 2019: 82).

Sources

http://wetten.overheid.nl/BWBR0011468/2016-01-01
 
TJN Survey-2017
 
GF 2019: 82