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GOV’T WORKERS URGED: WAIVE BANK SECRECY RIGHTS
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The 20th Congress has revived a bill that would require government officials to waive their bank secrecy rights. The bill, filed by Senate President Chiz Escudero, would require public officials to submit a written waiver authorizing the Office of the Ombudsman to examine all deposits and investments, including foreign currency accounts. The bill aims to strengthen transparency and combat corruption among government officials. The bill also aims…
GOV’T WORKERS URGED: WAIVE BANK SECRECY RIGHTS
Senate President Chiz Escudero has renewed his call for transparency and accountability in government by refiling a measure that mandates all public officials and employees to waive their rights under Republic Act No. 1405, or the Law on the Secrecy of Bank Deposits, and Republic Act No. 6426, or the Foreign Currency Deposit Act. Under the Escudero bill, government personnel–except those serving in an honorary capacity–will be required to submit…
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