bank secrecy - updates

Rappler's latest stories on bank secrecy


Revilla files Eddie Garcia bill, proposal to waive bank secrecy for public officials

Jul 20, 2019 - 8:40 PM

Senator Ramon 'Bong' Revilla Jr files 100 bills in his first few weeks in office in a bid to 'fulfill his campaign promises'

HOME. Senator Ramon 'Bong' Revilla Jr arrive his home at Bacoor in Cavite on 7 December 2018. File photo by Lito Boras/Rappler

Sandiganbayan gives Ombudsman go signal to probe Corona bank accounts

Oct 30, 2017 - 12:40 PM

The anti-graft court reverses its earlier ruling that quashed the subpoenas for the bank records of the late Chief Justice Renato Corona and his wife

CORONA WEALTH. After being ousted in May 2012 for non-declaration of assets, the Office of the Ombudsman is now going after P131 million worth of assets by the late former chief justice Renato Corona.

Singapore bank says it has no Trillanes account

Sep 19, 2017 - 12:47 PM

(UPDATED) 'Hongkong Shanghai Bank,' the second bank in Singapore where the senator allegedly has an account, does not exist in the location cited by allies of President Rodrigo Duterte

NO ACCOUNT. The DBS Bank in Alexandra Road in Singapore says Senator Antonio Trillanes IV has no account with them contrary to the claim of President Rodrigo Duterte. Screencap from Trillanes' video

AMLC confirms receipt of Trillanes' bank secrecy waivers

Sep 14, 2017 - 12:48 PM

In this regard we will evaluate the submitted Sworn Waiver and revert to you the soonest says AMLC Executive Director Mel Georgie Racela in a letter dated Wednesday September 13

Sen. Trillanes press con denying the bank accounts PRRD accused him of having. The senator is seen showing the members of the media the waivers he signed and copies of the supposed to be bank accounts. Photo by Angie de Silva/Rappler

Duterte on Gascon, Duterte on Trillanes, iPhone X | Midday wRap

Sep 13, 2017 - 12:20 PM

Watch the midday newscast with Marguerite de Leon

#ThewRap: Things you need to know, September 13, 2017

Sep 13, 2017 - 11:35 AM

Hello Here s a roundup of news you need to know this Wednesday

APPROVED BUDGET. Members of the House of Representatives on Tuesday jubilantly pose and flash the famous clenched fist sign of President Rodrigo Duterte after the lawmakers approved on second reading House Bill 6215 or the 2018 General Appropriations Bill (GAB). Photo from the House Press and Public Affairs Bureau

Duterte refuses to sign bank secrecy waiver

Sep 13, 2017 - 7:27 AM

President Duterte expounds on his allegations against Senator Antonio Trillanes IV and says his critic has perfected the art of crime

President Rodrigo Roa Duterte, in his speech during the closing ceremony of the 26th Mindanao Business Conference (MINBIZCON) at the Xavier Sports and Country Club in Cagayan de Oro City on September 9, 2017, reiterates that he will eradicate corruption and restore peace and order in Mindanao so that the island can become more conducive for business. Malacañan Photo

Trillanes, Reynaldo de Guzman, Faeldon | Evening wRap

Sep 11, 2017 - 9:06 PM

Watch the evening newscast with Chay Hofileña

Panelo on Trillanes' challenge to Duterte: Previous 'waiver' still valid

Sep 11, 2017 - 5:25 PM

But the Special Power of Attorney signed by President Rodrigo Duterte in May 2016 does not explicitly allow banks to reveal the transaction history of his accounts

Trillanes submits bank secrecy waivers to AMLC, Ombudsman

Sep 11, 2017 - 3:35 PM

The opposition senator again challenges President Rodrigo Duterte to sign bank waivers: Nagparatang ka sa akin pumirma ako ng waiver Nagparatang ako sa yo isang taon mahigit na iniiba mo usapan

Sen. Trillanes press con denying the bank accounts PRRD accused him of having. The senator is seen showing the members of the media the waivers he signed and copies of the supposed to be bank accounts. Photo by Angie de Silva/Rappler

Trillanes denies offshore accounts, vows to sign bank secrecy waiver

Sep 10, 2017 - 6:40 PM

Ibabalandra ko isasampal ko yan sa mukha ni Duterte says opposition Senator Antonio Trillanes IV referring to certification from banks which would prove he does not own the accounts in question

BANK ACCOUNTS. Opposition Senator Antonio Trillanes IV denies owning offshore accounts and says he will 'slap' President Rodrigo Duterte's face with proof. File photo by Joseph Vidal

Senators ask Comelec chief to waive bank secrecy rights

Aug 23, 2017 - 1:00 PM

UPDATED The Senate committee on banks financial institutions and currencies invites Comelec chief Andres Bautista to attend its next hearing on his controversial bank deposits

ACCUSED. Commission on Elections chief Andres Bautista is accused of obtaining ill-gotten wealth. Photo by Ben Nabong/Rappler

DOF to implement lifestyle checks on Customs officials

Nov 14, 2016 - 10:01 PM

Finance Secretary Carlos Dominguez III orders checks and a forensic analysis of data including the possible opening of bank accounts linked to corrupt activities

PDEA to Congress: Allow scrutiny of drug suspects' bank records

Aug 30, 2016 - 12:54 PM

The Philippine Drug Enforcement Agency also supports a bill that would allow law enforcement agencies to tap into conversations related to their anti illegal drug operations

LEGISLATIVE AGENDA. Representatives of PDEA, led by Director General Isidro Lapeña, faces the House Committee on Dangerous Drugs on August 30. Photo by Mara Cepeda/Rappler

The pet bills of President Duterte

Aug 01, 2016 - 10:00 AM

Duterte did not mention in his first SONA two bills that his top allies in the 17th Congress declared they would prioritize: the reimposition of the death penalty and the lowering to 15 years the minimum age of criminal responsibility

President Rodrigo Duterte delivers his State of the Nation Address, as Senate President Aquilino Pimentel III and House Speaker Pantaleon Alvarez listen. Photo by Francis R. Malasig/EPA

Duterte & China, SOCE, Dwayne Wade | 6PM wRap

Jul 07, 2016 - 7:30 PM

Watch Rappler’s 6PM newscast with Maria Ressa

Lacson, De Lima want to exclude gov't officials from bank secrecy law

Jul 07, 2016 - 10:08 AM

By excluding public servants from the protection of the law law enforcement authorities will be equipped with the tools needed to go after crooks in government says Senator Panfilo Lacson

BANK SECRECY. Senators Panfilo Lacson and Leila De Lima file bills seeking to exclude government officials and employess from the protection of the bank secrecy law.

BSP, AMLC on Duterte account: We didn't leak documents

May 02, 2016 - 7:15 PM

We will never allow [ourselves] to be used as a tool for political persecution or harassment says BSP Officer in Charge Vicente Aquino

NOT ENGAGED. The central bank's Vicente Aquino says BSP and AMLC are not engaged in partisan politics. Screenshot by Rappler

Duterte to AMLC: How is military able to look inside bank accounts?

May 01, 2016 - 11:52 PM

The Davao City mayor also admits he has a BPI dollar account containing his savings of 5 000

DUTERTE TO AMLC. Rodrigo Duterte questions AMLC's ability to implement the Bank Secrecy Law during a Manila rally on May 1, 2016. Photo by Alecs Ongcal/Rappler

Before labor leaders, Roxas hits Duterte over 'cash gifts'

May 01, 2016 - 5:30 PM

I thought only his mouth was dirty Now it turns out even his hands are dirty says the Liberal Party standard bearer

BPI speaks up on Duterte controversy

Apr 29, 2016 - 8:17 PM

We are committed to protecting client information says BPI in the wake of leaked information about Duterte s supposed deposits in the bank

NO BREACH. BPI denies allegations that it violated bank secrecy law. Image by AFP ImageForum

'We are not safe': Netizens threaten to close bank accounts for Duterte

Apr 29, 2016 - 7:08 PM

UPDATED BPI says its internal investigation reveals there has been no such breach It adds that it is committed to protecting client information and preserving the trust bestowed on us by our clients all these years

Trillanes to Duterte: Stop doing a Binay, sign waiver

Apr 29, 2016 - 10:58 AM

Senator Antonio Trillanes IV says once proven wrong he will pull out of the vice presidential race and immediately resign from the Senate where his term ends in 2019

HE SAID, HE SAID. Senator Antonio Trillanes IV accuses Davao City Mayor Rodrigo Duterte of not declaring a bank account in his Statement of Assets, Liabilities, and Net Worth

Roxas slams Duterte for 'lying' about BPI account

Apr 28, 2016 - 6:40 PM

The Liberal Party standard bearer also signs an Affidavit of Transparency to allow the Ombudsman to look into his wealth

Binay to rivals: Open your bank accounts, show med certificates

Apr 24, 2016 - 2:04 PM

Binay: Kung wala tayong itinatago pirmahan ninyo ang waiver Magpapa AMLC din kayo

Presidential candidate and Vice President Jejomar Binay speaks during a press conference in Dagupan City, April 24, 2016. Alecs Ongcal/Rappler

#AnimatED: Money-laundering at RCBC test for Bangko Sentral

Apr 04, 2016 - 9:00 AM

Will the country’s financial regulator sanction Rizal Commercial Banking Corporation?

After Bangladesh bank heist, Poe calls for bank disclosures in PH

Mar 17, 2016 - 7:00 AM

It s not a question of whether we should lift the Bank Secrecy Law It s a matter of when we re going to do it says the presidential candidate

BANK DISCLOSURES. Presidential candidate Grace Poe says it's time that bank disclosures become the trend in the Philippines. Screenshot from Rappler

Duterte-Cayetano sign manifesto to bare their bank accounts

Mar 15, 2016 - 4:58 PM

The tandem urges other candidates to sign the document to signify their commitment to transparency

COMPLETE DISCLOSURE. The tandem of Rodrigo Duterte and Alan Peter Cayetano hold up a document they signed waiving their rights under the Bank Secrecy law. Photo by Pia Ranada/Rappler

Soft drink tax a ‘good health measure’ – IMF official

Jun 11, 2015 - 1:37 PM

An International Monetary Fund official likens the proposed measure to the sin tax law as it also has health benefits

Contempt? Binays might sue media over freeze order story

May 13, 2015 - 6:52 PM

Senators Franklin Drilon and Francis Escudero say bank secrecy laws do not apply to the Court of Appeals freeze order and the media can report on the order

MEDIA LAWSUIT? Senator Nancy Binay says her family's lawyers are considering suing media outfits for reporting on the CA freeze order. File photo from Senator Binay's Facebook page

2014 supplemental info optional for taxpayers – BIR

Apr 02, 2015 - 1:30 PM

However the agency says filing supplemental information will be mandatory for tax calendar year 2015

The BIR announced that disclosure of supplemental information is now optional for tax year 2014. AFP PHOTO

Swiss banks at crossroads as secrecy goes up in smoke

Sep 14, 2014 - 1:10 PM

Under heavy pressure from international regulators looking to root out shady practices after the global financial crisis the wealthy Alpine nation has agreed to phase out its long tradition of banking secrecy

NO LONGER SECRET. Swiss banks are beginning to unveil their books amid a global crack down on tax cheats. Photo from Shutterstock

Swiss private banks to release first-ever results

Aug 26, 2014 - 11:59 AM

Switzerland s cherished tradition of banking secrecy has been battered as governments – notably the US and EU – crack down on tax cheats who stash cash abroad

Sandiganbayan justice not keen on opening Luy's bank records

Aug 08, 2014 - 5:43 PM

Aside from citing bank secrecy laws Justice Samuel Martires asks Napoles lawyer How can we look into the bank accounts of Luy Sula and Suñas if those 3 are now witnesses and not accused?

Swiss banks scrambling to meet US deadline on bank secrecy

Dec 22, 2013 - 5:00 PM

Swiss banks have until the end of the year to decide whether to fess up to potential wrong doing and hand over their files to US authorities or take their chances outside the program

BANKING SECRECY SOON OUT. A file picture dated 24 January 2013 shows the logo of Swiss bank UBS, in Zurich, Switzerland. UBS is one of Switzerland's top banks. EPA/Steffen Schmidt

Casinos exempt from tougher anti money-laundering law

Feb 06, 2013 - 9:50 PM

Casinos and Internet gaming were excluded at the request of the House and PAGCOR says Sen Teofisto Guingona

GAMBLING PARADISE. A dealer plays card with visitors during a two-day exhibit on the gaming industry in Manila, 22 March 2007. AFP PHOTO/ROMEO GACAD

PNoy breaks promise, says SALN enough

Jun 01, 2012 - 7:50 PM

But the Corona trial shows that the waiver in the Statement of Assets Liabilities and Net Worth is not enough

Why I voted for TRO - Justice Brion

Feb 14, 2012 - 11:29 AM

The TRO simply maintains the status quo and doesn t encourage officials to evade SALNs

CONCURRING OPINION. Associate Justice Arturo Brion (Photo courtesy of Supreme Court)

#CoronaTrial: Day 15

Feb 09, 2012 - 6:57 PM

Day 15: PSBank president back on witness stand and grilled by senator judges Pascual Garcia III stands firm in not disclosing info related to foreign currency deposits allegedly owned by Chief Justice Corona BPI Ayala branch manager testifies

Secrecy in foreign currency deposits

Feb 08, 2012 - 6:48 PM

The prosecution has limited options: amend the law or pin down Corona on money laundering

Corona had P20-M in 2010, bank exec says

Feb 08, 2012 - 6:46 PM

In his SALN covering the same period Corona declared only P3 5 M in cash and investments

UNDECLARED FUNDS. Chief Justice Renato Corona's bank deposits