Tag: Bank Secrecy Act

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PingBills | Ping: Presidente, Gov’t Officials Ekis na sa Bank Secrecy Law

Papayagan na ang awtoridad na silipin ang mga bank accounts ng mga matataas na opisyal ng pamahalaan, kabilang na ang Pangulo, sa oras na maisabatas ang panukalang inihain ni Senador Panfilo Lacson.

Layunin ng Senate Bill 26 na amyendahan ang ilang nilalaman ng Republic Act 1405 o ang Bank Secrecy Law bunga na rin ng pagiging “madamot” nito sa publiko kaugnay sa mga detalye ng bank accounts ng mga mga opisyal at kawani ng pamahalaan.

Ang bahaging nagbabawal sa mga bangko na isiwalat ang mga bank accounts ng mga opisyal, halal man o itinalaga, at mga kawani ng pamahalaan ang nais ni Lacson na mabago batay sa nilalaman ng kanyang panukala.

Related: PingBills | Nowhere to Hide: Lacson Bill Removes Bank Secrecy Act Protection for Gov’t Officials, Employees
Continue reading “PingBills | Ping: Presidente, Gov’t Officials Ekis na sa Bank Secrecy Law”

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PingBills | Nowhere to Hide: Lacson Bill Removes Bank Secrecy Act Protection for Gov’t Officials, Employees

Government officials and employees who enrich themselves while in office will now have a harder time hiding their ill-gotten wealth, with a bill filed by Sen. Panfilo M. Lacson excluding all public servants from the Bank Secrecy Law.

Lacson’s Senate Bill 26 strips public servants of the “protection” from Republic Act 1405, which prohibits disclosure or inquiry into bank deposits as a general rule.

He noted the Bank Secrecy Act’s provision prohibiting the disclosure of or inquiry to bank deposits has frequently been exploited to “hamper and stall investigations” of government officials and employees suspected of enriching themselves while in public office.

Related: PingBills | Ping: Presidente, Gov’t Officials Ekis na sa Bank Secrecy Law
Continue reading “PingBills | Nowhere to Hide: Lacson Bill Removes Bank Secrecy Act Protection for Gov’t Officials, Employees”

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Interview on DZRH | Jan. 17, 2019

In an interview on DZRH, Sen. Lacson answered questions on:
– need to tighten Bank Secrecy Act and related legislation after Ligot acquittal
– passage of the 2019 national budget
– potential PH takeover of Hanjin shipyard in Subic

Quotes from the interview… Continue reading “Interview on DZRH | Jan. 17, 2019”

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#PingSays: On calls to look into President Duterte’s bank accounts, and China’s reported buildup in the South China Sea | Feb. 5, 2018

In an interview, Sen. Lacson answers questions on:
– calls to look into President Duterte’s bank accounts
– China’s reported buildup in the South China Sea

Quotes from the interview…  Continue reading “#PingSays: On calls to look into President Duterte’s bank accounts, and China’s reported buildup in the South China Sea | Feb. 5, 2018”

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Lacson Bill Strips Drug Pushers, Financiers of Bank Secrecy

Drug pushers, manufacturers, cultivators, importers and financiers can no longer hide their ill-gotten money in banks, as a bill filed by Sen. Panfilo M. Lacson seeks to strip them of their rights under the Bank Secrecy Act.

Lacson said his Senate Bill 1025, which strengthens the Comprehensive Dangerous Drugs Act of 2002, is a proactive move to support the government’s unrelenting war against illegal drugs.

“Experiences of the past tell us that our country’s high regard to the secrecy of bank deposits results to law enforcers’ limited authority in terms of confiscation and forfeiture of money or proceeds of the sale or trade of illegal drugs,” he said in his bill, titled “An Act Authorizing the Examination of Bank Deposits, Accounts and Records of Pushers, Manufacturers, Cultivators, Importers and Financiers of Dangerous Drugs, Amending for the Purpose Republic Act No. 9165 and for Other Purposes.”

Related: Lacson bill: Kuwarta ng drug personalities bawal na sa mga bangko Continue reading “Lacson Bill Strips Drug Pushers, Financiers of Bank Secrecy”