CUSTOMER DATA AND BANK SECRECY RULES IN THE NETHERLANDS ANTILLES
Customer data must be kept confidential
Bank secrecy rules protect the confidentiality of customer data. Customer data is any information relating to an identified or identifiable customer. Bank secrecy rules apply to all information relating to any banks business or information which the bank obtains in the course of business or contractual relationship.
Netherlands Antilles civil law has no specific rule concerning banking secrecy. However, the Netherlands Antilles Civil Code implies a duty of confidentiality for a bank. In addition, a general contractual duty of care (i.e. a duty to provide services of a proper standard) is also implied from general principles of Netherlands Antilles law. It goes without saying that a court may order the disclosure of certain information.
In addition, section 286 of the Penal Code (‘Wetboek van Strafrecht van de Nederlandse Antillen’) adds a criminal dimension to bank secrecy. An employee, who discloses data to third parties outside the scope of his or her duty, will possibly have committed a criminal offence (breach of professional secrecy).
Karel Frielink
Attorney (lawyer) / Partner
