Section 2 of Republic Act 1405, the Bank Secrecy Act, declares as "absolutely confidential" all bank deposits including investment bonds, which cannot be scrutinized by any government office or person.
At the start of the previous Congress in July 2016, Lacson had filed a bill to amend this section of RA 1405, under which bank secrecy can be lifted only upon the written consent of the depositor, in cases of impeachment, or by court order in cases of bribery or dereliction of duty by a public official.
26 which seeks to exempt public servants from the Bank
Secrecy Law (Republic Act No.
"Compulsory invention
secrecy reduced followon invention and restricted commercialization, but as part of the security policies in place during the war it appears to have been effective at keeping sensitive technology out of the public view," Gross concludes.
The head of the Philippines central bank, Bangko Sentral ng Pilipinas (BSP), has called for measures to ease banking
secrecy.
Roque told reporters that taxpayers are still keen on general tax amnesty, the repeal of the bank
secrecy law to allow the scrutiny of 'suspicious' bank accounts and the automatic exchange of information (AEOI).
The President earlier urged Congress to pass another tax amnesty measure with proper safeguards that include the lifting of bank
secrecy for fraud cases.
But today it has been revealed that the judicial investigation is now the subject of a
secrecy order - an exceptional measure adopted to safeguard the probe by trying to minimise publicity.
Previous Empirical Studies of SMEs and Trade
Secrecy 779
LAUSANNE, Switzerland - Switzerland's highest court ruled on Wednesday that prosecutors cannot extend Swiss banking
secrecy rules to all corners of the globe to pursue whistleblowers and other leakers at foreign subsidiaries.