MANILA, Philippines – One of the first bills filed under the new administration seeks to exclude government officials and employees from the protection of Republic Act 1405 or the Bank Secrecy law.

Senators Panfilo Lacson and Leila de Lima have filed their versions of the proposed measure, which would make it easier to uncover ill-gotten wealth of public servants.

Lacson’s Senate Bill 47 seeks to amend Section 2 of RA 1405 to exclude depositors who are elective or appointive officials or employees of the government, from the President down to the lowest-ranking employee, from the protection of the law.

By excluding public servants, Lacson claimed “law enforcement authorities will be equipped with the tools needed to go after crooks in government.”

“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 in a statement.

Members of the uniformed service and the government-owned and controlled corporations (GOCCs) are also covered by Lacson’s proposed measure.

De Lima, for her part, said Senate Bill 196 seeks to “promote transparency in governance” and deter corrupt acts.

“The 1987 Constitution states that ‘public office is a public trust.’ No person who serves in government shall abuse this mandate, or be promised a shield from accountability in the commission of crimes,” De Lima said in a statement.

“By removing the bank confidentiality privilege of those in public office, this bill will promote transparency in governance, and will significantly lessen attempts of accumulating ill-gotten wealth,” the new senator said.

The existing bank secrecy law, which was passed in the 1950s, prohibits the disclosure of or inquiry into deposits with any banking institution. It covers “all deposits of whatever nature with banks or banking institutions in the Philippines.”

Exceptions include the written permission of the depositor, cases of impeachment, or upon orders of a competent court in cases of bribery or dereliction of duty of public officials, or in cases where the money deposited or invested is the subject matter of the litigation.

The Anti-Money Laundering Council (AMLC) also earlier sought to relax the country’s bank secrecy law to combat money laundering activities. – Rappler.com