Paraguay (PY)

Jurisdiction Overview

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: 2019


Law 861, Art. 84 establishes banking secrecy. Art. 88, on sanctions, refers to sanctions established by other laws including criminal laws. Art. 147.2 of the Penal Code imposes prison sentence to those who reveal private secrets when they are obliged by law not to reveal them.

Law 861, Arts. 84, 88 and Penal Code, Art. 147