Senator Panfilo ‘Ping’ Lacson is pushing for a bill to remove government officials and employees from exemption when it comes to the bank secrecy law.
Lacson said that officials who wanted to become rich while still in power have exploited the ‘Bank Secrecy Act’ which prevents investigations from accessing the accounts of those liable.
Senate Bill 26 wants the exemption of all elective and appointive officials or employees from the President down to the lowest ranking employee.
The bill gives the power to any investigation to go after the crooks of the government.
The Bank Secrecy Act that was passed in 1955 prohibits any person, subject to a few exceptions, from disclosing to any person any information, relative to the funds or properties belonging to the depositors in the bank’s custody.
