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

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

October 7, 2021 - 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.

He lamented the provision of the Bank Secrecy Act (RA 1405) 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.

Lacson said he has filed bills to exclude public servants from the Bank Secrecy Act's protection in the last three Congresses, including Senate Bill 26 in the 18th Congress.

Unfortunately, Lacson said these bills were not passed.

"Hindi dapat kasama sa provision ng Bank Secrecy Law once na pumasok ka sa gobyerno dapat hindi ka kabilang sa protection na binibigay ng Bank Secrecy Act. Sa kasamaang palad di ito umusad (Once you enter government service, you should be excluded from the Bank Secrecy Act. Unfortunately, my bills to the effect were not passed)," he said.

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