Open AccessA Shift in The Principle of Bank Secrecy due to Advancement in Information Technology
Author(s) -
Budi Agus Riswandi
Publication year - 2020
Publication title -
varia justicia
Language(s) - English
Resource type - Journals
eISSN - 2579-5198
pISSN - 1907-3216
DOI - 10.31603/variajusticia.v16i1.3336
Subject(s) - secrecy , confidentiality , computer security , normative , process (computing) , business , information security , computer science , internet privacy , actuarial science , risk analysis (engineering) , political science , law , operating system
Bank secrecy is a conditional legal agreement used by a bank to guarantee the confidentiality of customers' dealing and financial affairs. However, the advancement in information technology, especially in the implementation of electronic systems and transactions across banks, has introduced tremendous changes in the ability of financial institutions to efficiently secure customers’ data. This study provides a detailed explanation of the transformation process using the normative method. The result showed a shift in the principle of bank secrecy to data security in the event of a violation.