Swedbank CEO Olavi Lepp says that banks have an obligation to provide data to the state when requested. Banks have had no reason to suspect that such data requests were made unlawfully. According to Lepp, this situation has damaged the credibility of state institutions.
Lepp stated that the law clearly requires banks to provide data. However, the law also includes many exceptions. Lepp noted that the primary obligation of banks is to provide data when requested by the state. Nevertheless, banks and society expect the state to exercise this right on legal grounds.
Lepp said it has now become clear that state systems are not always in compliance with the law. He hopes the response to this will be swift. According to Lepp, it is not the banks that have been harmed in this situation, but rather the bank customers whose data has been disclosed.
Lepp explained that banks do not know how much data the state requests. He mentioned that data used to be sent on paper, but now it is done electronically. Banks do not know how much data the state is requesting.
Lepp believes that the Chancellor of Justice's conclusions damage the credibility of state institutions. He asked whether people are aware that investigations have been conducted about them. In Lepp's opinion, the parliament should discuss the extent of the state's rights. He believes this is a crucial issue for Estonia's future.