Armenia is preparing changes that will allow the seizure of information containing banking secrecy in electronic format. This was announced by Deputy Minister of Justice Gevorg Kocharyan, presenting a package of amendments to the Criminal Procedure Code. The innovation is already being considered by parliament in the first reading.
According to the official, the number of decisions to provide data protected by banking secrecy has increased sharply in recent years. This has led to an increase in the burden on financial organizations and law enforcement agencies, as well as to delays in the processing and transmission of information.
The transition to electronic format should speed up the process and reduce resource costs. It is planned to launch a secure communication channel through which banks will transmit data directly to law enforcement agencies, minimizing human involvement and reducing the risk of delays.
