CYPRUS: Legislation on PEP bank statement disclosure found to be invasion of privacy
The legislation on the Disclosure of Politically Exposed Persons (PEPs) and government representatives, which necessitates individuals to disclose their bank statements detailing their expenditure to a Cyprus committee, has been ruled is fundamentally unworkable to implement. To which the Justice Ministry is reportedly preparing amendments with hopes to make it implementable, it has emerged.
Many of the affected Officials have been raising their issues with requirements to disclose seemingly private data with the commissioner for data protection, as the proposed legislation orders that they should submit statements not only for themselves but also their families and dependent as well. This may be an invasion of privacy under data protection laws.
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