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Banco Pastor will identify clients who performed operations by 100,000 euros in 500 banknotes

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2013-12-25 17:45:47 - Banco Pastor shall disclose the identity of a customer who made cash cash transactions worth more than 100,000 euros in 500 euro amount, after receiving a request from the National Fraud Investigation Office, Department of Finances and Taxes.

Agreed upon by the Supreme Court in a judgment in which he admits the appeal filed by the State Legal against a legal decision of the High Court in September 2011.

The events date back to 2008, when the National Bureau of Fraud Investigation Banco Pastor claimed to identify the persons who performed some operations income or withdrawals in excess of 100,000 euros in 500 euro cash as well as the name in each income beneficiary and the payer of the withdrawal.

The Board explained that the Tax Code establishes the duty to the tax administration having to play in facilitating and providing " all the data , reports, records and documents with tax implications related to the fulfillment of its own

obligations or tax deducted their economic, professional or financial relations with other people " relationships.

In this context, that the Administration may require data on the economic situation of the taxpayer, " who has the legal duty to cooperate ," which extends to give their help " in the task of achieving fiscal equity , as the banks . "

However , the court insists that the difficulty of these requirements is to determine the extent that the right to privacy must yield to the obligation of the duty to provide information relevant for tax purposes . The Board finds the motivation of requirements that formulated to combat tax fraud.

Please find more information about Banco Pastor (Banco Popular Group) at

Press Information:

7 Duo Loc., Madrid, Espana

Contact Person:
Marco Millero

Phone: 9055269010
email: email


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