The National Assembly of Armenia has adopted in the first reading a bill providing for the possibility of electronic seizure of information containing banking secrecy. Deputy Minister of Justice Gevorg Kocharyan noted that the increase in the number of requests to financial organizations has significantly increased the burden on employees and the time spent preparing data for law enforcement agencies.
The new system will allow data to be transmitted in a secure electronic form, reducing human involvement and speeding up the process. According to Kocharyan, the introduction of the digital format is designed to optimize the work of the law enforcement system and financial institutions, making the process more efficient and secure.
As part of the reform, it is planned to create a secure communication channel through which banks will directly transmit confidential information to law enforcement agencies. This is expected to reduce errors and increase the efficiency of interaction between the state and financial institutions.
