Bank secrecy waiver

THEN and now, alleged undisclosed bank accounts of some government officials and employees are issues that continue to hound all anti-corruption campaigns. The Bank Secrecy Law has in fact become an unwitting shield and refuge of corrupt officials and employees.

Now here’s a chance for the Duterte administration to walk the talk. Party-list Bayan Muna filed a bill that allows a look into the local and foreign currency deposits of all elected and appointed officials and employees.

According to Bayan Muna’s Rep. Carlos Isagani Zarate, if the administration’s war on corruption is indeed not just about bluster, it should support the passage of House Bill 7146.

House Bill 7146 states that aside from the SALN (Statement of Assets, Liabilities and Net worth), government officials and employees are required to submit a written waiver for the Ombudsman to examine, inquire or look into all their bank deposits, as an additional exception to Republic Act 1405 or the Bank Secrecy Law, as amended.

The primary purpose of this is to curb graft and corruption, especially in the higher echelons of government where it is rife. Positions like Cabinet secretaries, senators, congressmen even up to the president are included in the scope of this bill.

Take note that this proposed requirement is now even demanded of applicants to the position of Supreme Court Chief Justice. If justices are required to submit a waiver, there is no reason why Cabinet secretaries and other officials and employees should not.

Thus, while the Duterte administration is supposedly going after corrupt officials, Finance secretary Carlos Dominguez’s claim that the proposed bill is “nonsense” is baffling to say the least.

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