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ARTICLE · 18 MARCH 2020

Data Privacy Related Amendments To Turkish Banking Law

Esin Attorney Partnership
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The Amendments were published in the Official Gazette on February 25, 2020 and entered into force on the same date.

TurkeyPrivacy
Ilay Yilmaz
Ilay Yilmaz
Can Sozer
Can Sozer
Berk Bengi
Berk Bengi
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Recent Development

The Banking Law No. 5411 ("Banking Law") was amended, altering banks' data privacy practice ("Amendments"). The Amendments were published in the Official Gazette on February 25, 2020 and entered into force on the same date.

What's New?

  • Article 73 of the Banking Law introduces "customer secret". A customer secret is defined as information collected related to a real or legal person's banking activities after the bank-customer relationship is built. In that regard, "customer secret" has a different definition than "personal data," which is defined in the Personal Data Protection Law No. 6698 ("Data Protection Law"). While personal data only belongs to a real person and data only qualifies personal if it identifies a real person on its own or when matched with other data, customer secret includes all of the information related to the banking activities belonging to a real person or legal person customer.

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