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Offshore Company Registration - Incorporation Offshore Companies : SFM Offshore

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Definition : Bank Secrecy

 

Implied term, in the contractual relationship between a bank and its customers, that the bank will keep the financial affairs of its customers confidential. There are situations when a bank must disclose information relating to its customer to authorities or third parties, for example under money laundering legislation or under an order of a court.

 

 

 

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