Bill aims to simplify access to banking information

PanARMENIAN.Net - Armenia is considering introducing an electronic method for seizing information containing banking and related secrets, aiming to streamline procedures.

The draft was presented in parliament by Deputy Justice Minister Gevorg Kocharyan.

He noted that under current regulations, the seizure of documents containing medical, notarial, and banking secrets is carried out exclusively by court order, according to 1lurer.am .

In recent years, the number of such court decisions has significantly increased, leading to greater time and resource demands for data processing, preparation, and transfer. This has complicated the work of both law enforcement bodies and financial institutions, resulting in delays in providing information.

The proposed digitalization of the process is intended to reduce time and resource costs, as well as minimize the human factor during data transfer.

At the same time, it was emphasized that electronic access to data does not mean it will be transmitted through any channel, such as email. A dedicated secure system is planned to handle these processes.

The National Assembly’s Standing Committee on State and Legal Affairs has issued a positive opinion on the draft.