Legal Predicament Of Financial Privacy Protection In China And Its Solution

With the continuous development of society,the right to financial privacy has been protected by most countries and regions in the contemporary world.However,there are many gaps in legislation and supervision in China.To solve this problem,this article first analyzes the case of Liu Chunquan,a typical case in which a customer prosecuted a bank for infringing privacy rights.This case elicited the issue of the lack of legislation on financial privacy protection in China.The paper then sorts out the theoretical evolution of the foreign financial privacy right.Compared with traditional privacy rights,financial privacy Rights expand property attributes and positive rights attributes.These qualities are difficult to protect through the traditional privacy rights system.Therefore,all countries have adopted active information protection legislation to improve the protection of new types of rights.In China,there is no clear regulatory body for privacy protection of financial consumers.Together with current laws,most of them are general rules for bank secrecy obligations,and banks can easily obtain “explicit consent” from customers through format contracts.The infringement remedy also lacks a right basis,making it difficult for customers to remedy their rights and interests through the judiciary.Then,the article compares and analyzes the financial privacy right adopted by the European Union and the United States.Both the EU and the United States start from the point of view of safeguarding human dignity,but tend to have different tendencies in the protection of personal rights and the flow of information,leading to differences in the legislative model and specific powers.China should pay attention to the protection of rights while promoting the development of information,absorb the advantages of the EU and the US legislation,and build a suitable legal system based on the actual situation.