Tag: bank secrecy

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Ping Lacson Bills Strip Gov’t Officials, Employees of Secrecy in Bank and Foreign Currency Deposits

Government officials and employees trying to enrich themselves in office will have nowhere to hide their ill-gotten wealth as they will be stripped of secrecy rights under the laws on bank deposits as well as foreign currency deposits.

The removal of secrecy rights for public servants in both types of deposits is contained in two bills filed by Sen. Panfilo “Ping” M. Lacson, a long-time enemy of graft and corruption.

Lacson, in Senate Bill 38 titled “An Act Further Strengthening the Secrecy of Bank Deposits Law, Amending for the Purpose RA 1405 Otherwise Known as the Secrecy of Bank Deposits Law as Amended,” pointed out that the 1987 Constitution itself stresses that “Public office is a public trust,” and public office thus must not be used for self-aggrandizement or for acquiring wealth by the person holding it.

“This bill seeks to exclude government officials and employees, whether elected or appointed, from the coverage of the Bank Secrecy Law to equip government authorities with the necessary tools to effectively investigate and prosecute those who misuse public office for personal gain,” he said.

In Filipino: Dalawang Panukala ni Ping Lacson, Huhubaran ang Taga-Gobyerno ng ‘Secrecy’ sa Bank at Foreign Currency Deposits

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Ping: Mga Opisyal ng Gobyerno, Di Dapat Protektado ng Bank Secrecy Law

Lahat ng mga empleyado ng gobyerno–mula sa clerk hanggang sa Presidente–ay hindi dapat isama sa mabibigyang proteksyon sa Bank Secrecy Act, ayon kay Senador Panfilo Lacson.

Para sa senador, makakatulong ito sa pagpuksa sa korupsyon dahil mahihirapan na ang mga opisyal at empleyado ng gobyerno na itago ang kanilang nakaw na yaman.

“Whether janitor or clerk, all the way up to the President, kailangan di ka protektahan ng Bank Secrecy Act,” ani Lacson sa kanyang panayam sa One News nitong Huwebes.

Related: Lacson: Bank Secrecy Law Protection Should Exclude All Gov’t Officials
Continue reading “Ping: Mga Opisyal ng Gobyerno, Di Dapat Protektado ng Bank Secrecy Law”

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Lacson: Bank Secrecy Law Protection Should Exclude All Gov’t Officials

All public servants – from the clerk all the way to the President – must be excluded from the “protection” of the Bank Secrecy Act, Sen. Panfilo M. Lacson said Thursday.

Lacson said this will help curb corruption as government officials and employees who enrich themselves while in office will have a harder time hiding their ill-gotten gain.

“Whether janitor or clerk, all the way up to the President, kailangan di ka protektahan ng Bank Secrecy Act (Whether you are a janitor or clerk, all the way up to the President, you should not be protected by the Bank Secrecy Act),” he said in an interview on One News.

Related: Ping: Mga Opisyal ng Gobyerno, Di Dapat Protektado ng Bank Secrecy Law
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Lacson Bill Removes Bank Secrecy Act Protection for All Government Officials, Employees

Uncovering ill-gotten wealth of government officials may soon get easier, with a proposed measure by Sen. Panfilo M. Lacson seeking to exclude them from the Bank Secrecy Law.

Lacson’s Senate Bill 47 effectively removes from all public servants the “protection” afforded by Republic Act 1405, which prohibits disclosure or inquiry into bank deposits.

“The avowed purpose of the law (Bank Secrecy Act) is meritorious in preserving the confidentiality of bank transactions. Unfortunately, this provision of the law prohibiting the disclosure of or inquiry to bank deposits had been exploited time and again to hamper and stall investigations of government officials and employees suspected of enriching themselves while in public office,” Lacson said.

Related: Ping: Presidente, taga-gobyerno, babaklasin sa Bank Secrecy Law Continue reading “Lacson Bill Removes Bank Secrecy Act Protection for All Government Officials, Employees”

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Ping: Presidente, Taga-Gobyerno, Babaklasin sa Bank Secrecy Law

Maaari nang mausisa ng publiko ang mga bank accounts ng mga matataas na opisyal ng pamahalaan sa oras na maisabatas ang panukalang inihain ni Senador Panfilo Lacson.

Pangunahin kasing layunin ng Senate Bill 47 na inihain ni Lacson 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 mga opisyal at kawani ng pamahalaan.

Partikular na probisyon ng naturang batas na nais maamyendahan ng senador ay ang bahaging nagbabawal sa mga bangko na isiwalat sa publiko ang mga bank accounts ng mga opisyal halal man o itinalaga at mga kawani ng pamahalaan.

Related: Lacson bill removes Bank Secrecy Act protection for all government officials, employees Continue reading “Ping: Presidente, Taga-Gobyerno, Babaklasin sa Bank Secrecy Law”