Definition of Secrecy in Business

One of the conditions of the relationshiip between a bank and its customers  is that the customers' dealings and financial affairs will be treated as confidential. This rule , however, does not apply to the customers' credit information which is shared rather freely among lending instituitions. Also, due to certain laws (such as anti-terrorist and anti-drug-trade legislation) and tax treaties between nations , banks must release specific information to help fight terrorism and ilega drugs trade, and prevent  tax evasion and money laudering.