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Watchdog fines K&H Bank for bank secrecy breach

Hungarian financial market regulator PSzÁF fined K&H Bank HUF 800,000 for breaking rules on bank secrecy.

K&H Bank sent a client a telegram regarding the termination of a loan and PSzÁF deemed the act of reading the contents of the telegram over the phone to a postal worker an infringement of bank secrecy rules.