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Manila Bulletin

Philippines

Mayor Isko willing to make bank accounts public

Philippines

Mayor Isko willing to make bank accounts public

By Seth Cabanban

Manila Mayor Francisco “Isko Moreno” Domagoso is open to waiving his rights under Republic Act (RA) 1405 or the Bank Secrecy Law, thus, making his bank accounts a matter of public record.

During a cash aid distribution event to victims of the San Andres fire on Friday, Dec. 10, Domagoso said he was willing to sign a waiver, which would diminish any restrictions on probes into his bank accounts and financial records as per RA 1405.

“I do not have any problem with it. Wala naman tayong itinatago, as long as na ito ay hindi gagamitin sa panggigipit sa kapwa. Iyon ang dapat nating ingatan kasi karapatan rin naman ng mamamayan natin ang kanilang privacy (I have nothing to hide as long as this isn’t used to harass. We need to be cautious with this as everyone has the right to privacy),” said Domagoso.

RA 1405 titled “An Act Prohibiting Disclosure of or Inquiry Into, Deposits with any Banking Institution and Providing Penalty Therefor” protects the privacy of any records and deposits made by an individual to any banking institution in the Philippines.

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