According to the decision of the Administrative Court, the state may not see a bank account for a specific reason.

LHV Bank’s Access to Account Statements Confirmed by Court, RAB to Appeal

Tallinn, Estonia – A recent administrative court decision has granted LHV Bank the authority to request customer account statements from clients through the Rahapesu Andmebüroo (Money Laundering Data Bureau), a move that the bank initiated following concerns raised by the ombudsman. The bank had previously sought legal recourse regarding the matter, citing identified deficiencies in the existing framework. The court’s ruling acknowledged LHV Bank’s position that the current legal landscape in Estonia does not sufficiently justify the RAB’s requests for customer bank account statements from financial institutions.

The decision affirmed that a robust legal basis is required before banks are compelled to provide such data. However, the Rahapesu Andmebüroo has stated its intention to appeal the court’s decision. The RAB maintains disagreement with the ruling and believes a stronger justification is needed for accessing banking information.

This development follows a legal challenge brought by the bank, focusing on the interpretation of regulations surrounding data access and money laundering investigations. The court’s decision represents a significant moment in the ongoing debate about data privacy and financial oversight within Estonia. The bank, court, and RAB are now preparing for the upcoming appeal.

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