Bill seeks to exclude public officials from bank secrecy law

/ 12:16 PM February 25, 2018

The will be no more secret deposits and bank accounts for public officials if a bill filed Bayan Muna Rep. Carlos Zarate becomes law. INQUIRER FILE PHOTO

A lawmaker has filed a bill which seeks to require all public officials and employees to execute a written permission to allow the Office of the Ombudsman to examine, inquire or look into their bank deposits.

Bayan Muna Rep. Carlos Isagani Zarate filed early February House Bill no. 7146, which is an amendment to the Code of Conduct and Ethical Standards for Public Officials and Employees.


This bill, he said, aims to “stop public officials and employees from hiding undeclared income.”

“Despite having in place deterrents like the annual filing of Statement of Assets and Liabilities (SALN), it does not stop public officials and employees from hiding undeclared income which in turn hampers transparent governance and anti-corruption mechanisms,” the progressive solon said in filing the resolution.


The proposed measure requires public officials and employees to waive their bank secrecy rights, aside from filing their SALNs. /cbb

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TAGS: Bank Secrecy Law, Bayan Muna, Carlos Isagani Zarate, Code of Conduct and Ethical Standards for Public Officials and Employees, HB 7146, hidden wealth, House, news, Office of the Ombudsman, public officials, undeclared income
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