Centro de Documentação da PJ
Analítico de Periódico
CD 341
How does the General Data Protection Regulation (GDPR) affect financial intelligence exchange with third countries? [Recurso eletrónico] / Md. Zahurul Haq
Journal of Money Laundering Control, Vol. 27, n. 1 (2024), p. 158-170
Ficheiro de 163 KB em formato PDF.
PROTECÇÃO DOS DADOS, PREVENÇÃO CRIMINAL, BRANQUEAMENTO DE CAPITAIS, EVASÃO FISCAL, CRIME ECONÓMICO, BANGLADECHE, UNIÃO EUROPEIA
Purpose – This paper aims to examine the probable effect of the General Data Protection Regulation of the European Union on the transfer of financial intelligence to a third country without an adequacy decision. Design/methodology/approach – This is an analytical study of the financial intelligence exchange mechanisms between the Bangladesh Financial Intelligence Unit (BFIU) and its foreign counterparts. The research analyses the key challenges this national agency faces in using the Egmont Group membership to import financial intelligence from jurisdictions with a superior data protection regime. Findings – Membership in the Egmont Group of Financial Intelligence Units does not guarantee unrestricted international intelligence exchange. Existing data protection regulations in Bangladesh are inadequate. This may forbid the transfer of the financial intelligence linked to European Union (EU) data subjects to Bangladesh. Research limitations/implications – This paper does not cover a thorough discussion on any specific alternative tools for data transfer from the EU to a third country except for “appropriate safeguards” options. Practical implications – The results of this study will help understand the existing legal and institutional limitations that may prevent intelligence exchange between the BFIU and its EU counterparts. Originality/value – The study helps ascertain the legislative reform necessary in Bangladesh, a third country, to facilitate the transfer of financial intelligence from the EU.
