Bank Secrecy Law

Question 1

9

Si Emil, isang ordinaryong tao, dinisclose niya yung details about sa bank ni Jares. Liable ba siya sa Bank Secrecy Law?

Answer 1

NO (since hindi siya employee ng bank!!)
- dapat employee ng bank

Question 2

Ang dinisclose ko is bank account number, hindi naman yung balance. Liable ba ko sa Bank Secrecy Law?

Answer 2

YES (any information, hindi lang balance)

Question 3

Deposits Covered
- All deposits in a bank including xx & yy

Answer 3

xx - trust accounts
yy - investment in bonds by government

Question 4

EXCEPTIONS (WIO GUAPO CAA)

Answer 4

• Written Permission
• Impeachment Cases
• Order of Competent Court (bribery and subject of litigation)
• Garnishment
• Unclaimed Balances
• Anti-graft and Corrupt Act
• PDIC / BSP
• Ombudsman
• Commissioner of BIR
• AMLC
• Anti Terrorism

Question 5

Foreign Currency Deposits are also confidential
EXCEPTIONS (WAP CA)

Answer 5

• Written Consent
• AMLC
• PDIC / BSP
• Commissioner of BIR
• Anti Terrorism

Question 6

Foreign Currency Deposit cannot be subject to garnishment (WIO GUAPO CAA vs WAP CA)

Ano yung mga cases na kahit pwede igarnish (exception to the exemption)?

Answer 6

• raped and escaped
• civil forfeiture
• freeze order