Bank secrecy may be disclosed — who is definitely at risk.

In the Budget Declaration for 2026-2028, the Cabinet of Ministers mentioned the disclosure of bank secrecy. Currently, to obtain information about the movement of funds from a self-employed person's account, an individual or legal entity must appeal to the court or directly to the account holder.

Tax consultant Mykhailo Smokovych reminded about this on his YouTube channel.

Who should fear the disclosure of bank secrecy

According to experts, there is a possibility of simplifying the procedure for obtaining information about the movement of funds for the State Tax Service: the controlling authority could be allowed to simply contact the bank, and financial institutions would disclose client information. Although there are currently no specific draft laws, active work is already underway in this direction.

“Who should worry, and who can continue to live and work calmly? Problems await Ukrainians who receive entrepreneurial income without business registration — self-employed or companies. It is worth correcting, as there are already tools in the tax service through which they can obtain information even without disclosing bank secrecy.”

What might threaten Ukrainians

According to economic expert Yurii Havrylets, the biggest problem with extrajudicial access to bank secrecy is the risk of fraud due to a lack of effective judicial protection of human rights.

“First of all, this will affect the lives of ordinary Ukrainians. There will be an increase in corruption, banditry.”

What else should Ukrainians know

According to Member of Parliament Yaroslav Zheleznyak, bank secrecy in Ukraine may significantly weaken in the next three years. The tax service wants to be granted the authority to track the movement of funds in accounts without a court decision.

Self-employed individuals should also remember their obligation to submit declarations and pay taxes in July 2025; otherwise, they face fines. It is essential to timely fulfill financial obligations to avoid negative consequences.

Ukrainian legislators are considering the possibility of weakening bank secrecy, making the procedure for obtaining information about the movement of funds simpler. However, this may impact the growth of corruption and violations of citizens' financial freedom. Therefore, it is important to responsibly fulfill financial obligations and adhere to legislation to avoid negative consequences for oneself and one's business.