Bank account monitoring system is ready

The General Secretariat for Information Systems has completed an application that will allow the state’s monitoring and collection mechanism to access the country’s banking system via an online connection.

The application, which will provide the Finance Ministry with access to bank data on accounts and loans on a daily basis in order to investigate tax evasion, is ready and some virtual checks on accounts have already been conducted successfully, also helping with the training of the employees who will handle and store all bank data in the ministry’s server.

The bill that will allow monitoring mechanisms, police and anti-money-laundering authorities to use the data will be tabled in Parliament next month and the System of Bank Account Registers will be in full operation as of September.

The aim is to reduce the time needed to investigate significant cases with a direct benefit for the state budget and public coffers. Those using the system will be able to search through accounts and loan transactions simply using the tax registration number of the person being investigated.

Subscribe to our Newsletters

Enter your information below to receive our weekly newsletters with the latest insights, opinion pieces and current events straight to your inbox.

By signing up you are agreeing to our Terms of Service and Privacy Policy.