Presidential spokesperson Edwin Lacierda INQUIRER FILE PHOTO
MANILA, Philippines—The waiver to secrecy of an official’s bank accounts now being demanded by various government critics is over-rated and less useful than the waiver that is written into government officials’ statements of assets, liabilities and net worth, Malacañang said Saturday.
The waiver contained in the official SALN is more comprehensive than the waiver of bank account secrecy that both allies and foes of President Benigno Aquino want him to sign, Edwin Lacierda, the President’s chief spokerson said Saturday.
Lacierda said a corrupt public official can easily stash his loot in a bank account under another name and he or she would have already gone around the waiver of bank account secrecy.
“The mandatory waiver in the SALN is more expansive and more comprehensive than the waiver to the secrecy of bank deposits,” Lacierda said over state-run radio station dzRB.
“It involves the waiver of not only your cash deposits. It also includes the waiver (for the Ombudsman to look into) your financial interest, business interest, assets, not only in terms of cash but also in terms of properties,” he added.
Lacierda said the SALN quickly establishes the presumption of ill-gotten wealth if his assets don’t appear commensurate to his legitimate source of income. “You will be able to provide a comparison between the income of a government official and the assets that he has accumulated,” Lacierda said.
“[If] the assets in the SALN are disproportionate with the income that you’re earning then… there’s a presumption of ill-gotten wealth,” he added.