Protection of personal client information and banking secrecy
Information on Bank's clients as well as facts and circumstances which the Bank learned on the basis of providing services to clients and in the performance of activities with an individual Client are considered a banking secret and the Bank can disclose them only in cases prescribed by law.
The Bank collects and processes the personal information of a Client in accordance with the personal information protection regulation with the purpose of performing contractual and/or legal obligations of the Bank, as well as regular work of the Bank and members of Intesa Sanpaolo S.p.A. to which the Bank belongs in the country and abroad as well as of a third party if the implementation of the contractual relation is directly linked to the business cooperation of the Bank, the Client and a third party, i.e. for the needs of managing the risks within a credit institution group and legal persons of a certain type of organization that may be established by credit institutions and other legal persons with the aim of exchanging credit rating information for the needs of protection against credit risk as well as for the purpose of implementing regulations on the prevention of money laundering and terrorism financing. The Bank does not gather personal information in a scope larger than necessary in order to achieve a certain purpose. As the head of the personal information collection, the Bank shall, in a way and in accordance with the applicable Legislation regarding personal information protection in the Republic of Albania, collect and process personal information also for the purpose of implementing the U.S. tax regulation under the title: Foreign Account Tax Compliance Act (hereinafter: FATCA) requesting from the financial institutions to recognize and report to the U.S. tax authority any American tax obligors possessing financial assets outside the U.S. and to establish the so-called U.S. FATCA tax payer status. The text of the FATCA law is available at the website www.irs.com. FATCA is available at the website www.irs.com. As the head of the personal information collection, the Bank shall, in a way and in accordance with the with the applicable Legislation regarding personal information protection in the Republic of Albania, collect and process personal information also for the purpose of implementing the Common Reporting Standard (CRS), i.e. the standard of obligatory automatic exchange (EU) of the Council 2014/107/EU of 9 December 2014 on the change of the Directive 2011/16/EU with regard to the obligatory automatic exchange of information in the field of taxation.
For the purpose of implementing the above, the Bank, as the head of personal information collections, shall inform the Client in advance on the identity of the head of the personal information collections, on the purpose of processing for which such information is intended, on the right of the Client to access such information and the right to correct the information referring to the Client, on the recipients and/or executors of personal information, on the start of collecting and processing certain personal information for a certain purpose and on whether this is a voluntary or an obligatory provision of information as well as on any possible consequences if such information is withheld. The Bank processes the personal information of a Client for the purpose for which the Client has given their consent and/or for the purpose of concluding and/or executing the contract in which the Client is a party and/or in cases defined by the law and/or for the purpose of executing legal or contractual obligations of the Bank and members of the credit institution group to which the Bank belongs in the country and abroad and/or if the Client published the information and in other cases defined by law, of which the Client shall be informed pursuant to the personal information protection regulation. The Bank, as the head of personal information collection, collects, processes or transmits the personal data of the clients in accordance with Albanian Law no. 9887 dated 10.03.2008 “On the protection of Personal Data. In accordance with the afore said Law, the Bank informs the Albanian Commissioner for the Protection of Personal Data and Right of Information” for every new processing of the clients’ personal data.
Based on the principle of free contracting and regulating obligatory relations, as well as based on the legal obligations of the Bank and credit institution group members to which the Bank belongs, the Bank retains the right to reject establishing a business cooperation and/or contracting a new banking or financial service if the Client does not consent to have his personal information processed.