The House of Representatives has passed a bill that will authorize the Bangko Sentral ng Pilipinas (Bangko Sentral) to snoop into the financial records and gather pertinent information from individuals as government and non-government entities.

House Bill 5875 or the New Central Bank Act was passed on third and final reading. The measure gives the Bangko Sentral the power to require any person or entity—including government offices and instrumentalities as well as government owned and controlled corporations—to provide the Bangko Sentral any data or information for statistical and policy development purposes in relation to the proper discharge of its functions and responsibilities.

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