During a vibrant campaign kickoff in Laoag, Ilocos Norte, senatorial hopeful Panfilo Lacson announced his intention to prioritize legislation that would strip government officials, including the President, of their protections under the Bank Secrecy Law. This move, Lacson emphasized, is crucial for uncovering illicit wealth amassed by public servants.
Lacson, speaking at a press conference ahead of the Alyansa ng Bagong Pilipinas rally, reiterated his commitment to this cause, stating that his first legislative action would be to file a bill mandating a waiver of Bank Secrecy Act rights for all government employees, from the lowest ranks to the highest office. He highlighted past instances where the secrecy law has been a barrier to investigating suspicious financial activities, such as the case of former Bamban, Tarlac Mayor Alice Guo, who was linked to billions in questionable bank transfers.
The proposed bill, a continuation of Lacson’s Senate Bill No. 26 from the 18th Congress, aims to dismantle the shield that the Bank Secrecy Act provides, which currently prevents inquiries into bank deposits. Lacson argued that this secrecy has often been used to obstruct investigations into corruption among government officials.
The legislation would also extend to members of the uniformed services and employees of government-owned and controlled corporations, ensuring a broad application across the public sector.
Lacson’s strong stance on this issue has resonated with voters, as evidenced by his top performance in the 2016 senatorial elections in Laoag City and his second-place finish in Ilocos Norte province.