By Charlotte GAUCHON
20 March 2025
Banking secrecy is often seen as a bulwark against curiosity, including that of the state. This ancient principle, whose origins can be traced back to centuries-old commercial practices designed to protect business confidentiality, was not formally enshrined in France until 1984. However, it is less protective than is commonly believed, being more relative than absolute. Introduction to the concept of banking secrecy Banking secrecy aims to protect both private and public interests. It guarantees the confidentiality of information held by credit institutions about their customers. This protection meets a fundamental need to preserve financial privacy, but also to maintain confidence in the banking system, an essential cog in the economy. This confidentiality is all the more important given that legislation sometimes requires individuals and businesses to use banking services. Legal basis Article L. 511-33 of the French Monetary Code...
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