Senator Panfilo Lacson has filed a bill that excludes government officials and employees from the coverage of RA 1405 or the bank secrecy law.
Lacson, in filing Senate Bill 47, said while the purpose of the Bank Secrecy Act is meritorious in preserving the confidentiality of bank transactions, the law is also being used by unscrupulous government officials to hide their ill-gotten wealth.
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