Bill exempting gov’t execs from Bank Secrecy Law backed
MANILA, Philippines — Human rights lawyer Chel Diokno yesterday backed Sen. Panfilo Lacson’s proposed bill, which seeks to exclude government officials and employees from being covered by the Bank Secrecy Law.
“Our bank secrecy laws are among the strictest in the world. If government officials are exempted, it would be easier to investigate corruption in the bureaucracy,” Diokno said in a statement.
“We should support this proposal from Senator Lacson. This is a good step toward transparency,” he added.
The Bank Secrecy Act, which was passed in 1955, prohibits the disclosure of bank accounts without a court order.
It covers “all deposits of whatever nature with banks or banking institutions in the Philippines.”
Lacson said this has been used to hide ill-gotten wealth.
- Latest
- Trending
