PANEL DEBATE ON PREVENTION OF MONEY LAUNDERING

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11/01/2013

Предмет на дискусија беше третманот на деловната тајна од аспект на законските одредбиThe subject of discussion was treatment of confidential information in terms of legal provisions

On the occasion of World Savings Day - October 31, Trade Union Financial Affairs of Macedonia yesterday in SSM organized debate in the area of prevention of money laundering. More specifically, the subject of discussion was treatment of confidential information with respect to the legal provisions contained in the Law against money laundering and other proceeds of crime and terrorist financing, Banking Law and the Law on Protection of Personal Data.

The issue of business secrets is of great interest in the scientific and professional community. In a situation where financial institutions are fighting for each customer, the treatment of confidential information creates many dilemmas and problems. In this area any bank must be very careful or otherwise it can happen confidential information to be turned into a public secret.

What dilemmas commonly arise in the field of storage of confidential information and exchange of information with the competent authorities? The forum speakers were Dr. Goce Trajkovski as moderator who explained the Law against money laundering, Iskra Ivanovska which spoke of the Law on Banks and Anita Tomevska discussed FATCA. Following questions and dilemmas were reviewed:
How to obtain or maintain customer’s confidence knowing that by law their personal have data to be transferred to state authorities? Should there be exchange of data only in terms of protection against credit risk or in terms of deposits as well? What attitude to take regarding the infamous FATCA (Foreign Account Tax Compliance Act), when it is known that much richer and more developed economies than ours are faced with open questions in this area.

Participants in the debate tried to respond to these and some other issues. If we bear in mind that participants work in this area and are employed in professional services for prevention of money laundering in commercial banks and savings banks, it is clear that this forum gave the expected results.
This is the third educational event on prevention of money laundering organized by SFDM. Last year there were two events, and the same topic will be reviewed again.

ILO Employment, Social Affairs and Equal Opportunities - EU FRIEDRICH EBERT STIFTUNG Организацијa на работодавачи на Македонија etuc