The Bank's Duty Of Keeping Clients' Secrets

In the business of banking, the banks master the basic information,transaction information,as well as other derivatives of clients. In order to control the cost, the banks tend to slacken their efforts to protect clients' information, or even use information of clients to seek illegal interests. Banking is based on the credit, once bank's clients have a credit crisis with banks, it will affect the healthy development of financial markets. As a result, the bank's duty of keeping secrets is closely related to the health of the financial market development, we must pay enough attention to it. This is the practical significance of topic. This paper explains the evolution theory,characteristics,scope,the principle of exceptions provisions of the bank duty of keeping clients secrets on foreign. Finally, The author puts forward the idea of improving the bank's duty of keeping clients' secrets of china to strengthen the protection of bank's clients' information.The paper includes four parts. The first part analyzes the theory of the bank's duty of keeping clients' secrets. Section I describes that the bank's duty of keeping clients' secrets originated in the United Kingdom "Tounier" case, the theory of implied terms of the contract. The implied terms of the contract is based on the existence of a contractual relationship of the bank and its clients.But, when banks and customers have not formally concluded a contract, bank' clients have to disclose its information to the bank. The theory of implied terms of the contract is not applicable for it. Accordingly, tort theories become the theoretical basis of the bank's duty of keeping clients' secrets. It shows that the tort theories provide a more adequate legal relief for the breach of the bank's duty of keeping clients' secrets. Section II is about the Range of the bank's duty of keeping clients' secrets. Bank's clients' information refers that in the process of the financial services of banking, the banks obtain the non-public information . bank's clients information is only the sub-category of all information categories. It has the following characteristics: First, customer information is available to the bank; Second, sharing of the information; Third, the identification of the information; Fourth, the character of the non-openness. In the section, on the basis of the comments of the concept and features of the clients' information, the paper discusses the range of the subject and object. The scope of the subject as follows: one is the banks themselves and their staff; the other is the all-around or other non-bank institutions within the banking group. The scope of the object includes all natural persons, legal persons and illegal organizations for that the financial institutions provided the financial services. The object of the bank's duty of keeping clients' secrets should include the following: account-related information; account transaction information. I believe that it should also include information on the identity of bank customers. Section III describes the principle of exception about the bank's duty of keeping clients' secrets. According to the authoritative view of the United States, All countries make exceptions about of bank's duty of keeping clients' secrets, which include the following four general areas: (1) mandatory disclosure by the law (2) the public interest (3) for the bank to carry out the interests (4) after a customer express or implied consent. Section IV discusses the civil liability the bank breach confidentiality obligations should undertake. It introduces the constitution of contractual liability and right infringement liability and compensation scope that the bank holds liability for damagesThe second part is about the foreign system of the bank's duty of keeping clients' secrets. This part declares the legislative evolution of the bank's duty of keeping clients' secrets in Swiss and America ,as well as, Swiss and the United States have the international cooperation in international financial information-sharing, In conclusion ,the author sums up the difference and its reason on the bank's duty of keeping clients' secrets between the two country.In the third part, the author has a discussion between the bank's duty of keeping clients' secrets and disclosure obligations. The conflict between the bank's duty of keeping clients' secrets and the disclosure to clients' information leads to a number of legal problems at home and abroad. In the course of tax investigation, the bank's duty of keeping clients' secrets and. In the course of the anti-money-laundering crime between the bank's duty of keeping clients' secrets and the obligation of disclosing client's information and in the process of Personal Credit between the bank's duty of keeping clients' secrets and the obligation of disclosing client's information. The fourth part analyzes the status quo about the bank's duty of keeping clients' secrets and how to improve the status quo in China. Section I describes the bank's duty of keeping clients' secrets of Law on Commercial Banks in China. The paper points out that legislative defects about bank's duty of keeping clients' secrets in China and find a method to improve the existing legislation. In Section II,III and IV introduce that in the tax investigation, In the course of the anti-money-laundering crime and in the process of Personal Credit, the bank how to keep the clients information provides a theoretical reference in improving the bank duty of keeping clients secrets .This article is only the stage results on theories of the bank's duty of keeping clients' secrets. Many views are not yet ripe, the logical structure needs to be improved, the theoretical depth needs to be enhanced, which are what I needed to work in the future.