On The Conflict Of Obligations Of Bank Secrecy And Money - Laundering And Balance

As a global question, the money laundering already seriously threatened the world economics. In recent years, was following the science and technology progress as well as the economical globalization advancement unceasingly speeds up, the money laundering presented the intelligentization, specialization and the internationalization. Money laundering is doing harm to state economy and social security prominently, and the channels of money laundering are also richer. The bank as a result of own prominent characteristic, already became main channel of money laundering.Has in view of the fact that the banking system already to become the main channel of the nowadays society's money laundering, but traditional security duty also in certain degree play an important role in protecting money laundering. We must request the banking industry to undertake the corresponding anti-money laundering duty, and the design science and rigorous system frame guaranteed the anti-money laundering highly effective carries on. But inevitably the traditional security duty would be challenged. The security duty between the bank and the customer is a duty which forms according to the contract spirit, and is on one kind of duty in civil law. But the anti-money laundering duty is the national responsibility, which is in one kind of typical duty in public law. Between these two kinds of heterogeneities duty conflict involves subjects not only including bank and customer, but also country which is the final beneficiary of the anti-money laundering. Only has makes a clear distinction between two kind of duties, and confirmed the legal relationship between country, the bank and the customer, we can truly impel the bank anti-money laundering effectively to launch, and guarantee the customer right to financial privacy to exempt the illegal harm, and realize the balance of public interest and the personal rights.In recent years, our country already initially established the bank secrecy system and the anti-money laundering institutional framework, but still has many problems. The related legal provision overemphasizes authorization to the national and limit to the customer's right, but neglected to provide adequate protection to the right to financial privacy. Therefore, the confidentiality of customer records would be balanced against the country's interest in insuring through legitimate law enforcement inquiries that bank comply with applicable regulation.