Insight into Banking Secrets Made More Easy

The new criminal process law envisages the possibility of freezing all assets not just one part as was the case until now, the minister said

ZAGREB, CROATIA – The new criminal process law has facilitated insight into bank accounts, Croatian Justice Minister Ivan Simonovic said. 

In the light of the recent disagreements, Minister Simonovic said that the old law and the new criminal process law, which was adopted on December 15, 2008, introduced the novelty of court orders for insight into a bank secret. Before this, the order was issued by the investigating judge, while now the investigating judge will issue the order at the suggestion of the competent state prosecutor.

- The court order is a guarantee of human rights protection and it is standard practice in Europe. Getting insight into the banking secret has been made more easy and not more difficult. The new law reduces the threshold for revealing a bank secret. Previously, founded suspicion was sought, while now what is needed are foundations for suspicion, which is easier. Financial accountability has also been raised to five million kuna. The law now also envisages the possibility of freezing all assets, not just a part of assets – the minister said.

He added that the new law did not mean a perfect system because the process of controlling money transfers is a lengthy one.