Senator calls for amendments to bank secrecy law



Senator Juan Miguel Zubiri on Tuesday called for amendments to the Law on Secrecy of Bank Deposits amid the war on drugs and corruption being waged by the Duterte administration.

"Will you agree na dapat buksan na natin ang bank secrecy law? Dahil sa sobrang higpit nito tayo ay naging tambayan ng sindikato, magnanakaw dahil hindi sila nahuhuli," Zubiri said during the Senate hearing on drug-related extrajudicial killings.

The senator emphasized that amending the law is in line with the President's anti-corruption agenda and allegations that several executive officials are part of the illegal drug trade.

President Rodrigo Duterte said in his first State of the Nation Address he will relax the bank secrecy law
For his part, Sen. Panfilo Lacson said he has a bill amending the law. "Meron akong bill na ganyan. Sana suportahan niyo," he said.

Lacson earlier proposed a measure seeking to exclude government officials and employees from RA 1405.

Sen. Leila De Lima, who chairs the Senate committee on justice, has a similar bill and will also file another measure called the Proceeds of Crime Act.

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