THE Bangko Sentral ng Pilinas (BSP) has proposed the inclusion in the Marcos administration’s priority bills the measure allowing the BSP to open bank accounts suspected of being used for money laundering and terrorism, Budget Secretary Amenah Pangandaman has said.
In an interview after President Ferdinand “Bongbong” Marcos Jr. convened the Legislative Executive Development Advisory Council on Wednesday, July 5, Pangandaman said the BSP also proposed that the Anti-Financial Account Scamming Bill be among the administration’s legislative priorities.
“Apparently, we’re the only country left in the world who hasn’t passed Bank Secrecy. It is only Lebanon pala and the Philippines. But Lebanon passed it last year. So we need to have one. And the Anti-financial Account Scamming Act or the AFASA bill,” Pangandaman said in an interview with reporters.
According to the DBM chief, the proposed Bank Secrecy Law would help in addressing money laundering cases in the Philippines. This will give BSP the authority to open bank accounts which could later be shared to courts and other necessary agencies, she added.
“It will help ‘yung for money laundering cases, problems on terrorism and if there’s court cases really need evidence or documents that will show that there are problems or meron talagang issue with regards to money, so the Bangko Sentral can open their accounts but it is only BSP, only exclusive for use of Bangko Sentral ng Pilipinas and maybe shared only with the SEC, PDIC, AMLC, DOJ and other courts,” she said.
Meanwhile, the Anti-Financial Account Scamming Act will help in deterring cybercrime, Pangandaman said.
“Ito po yata ‘pag may problem on phishing as well as money mules that will be penalized by the law,” Pangandaman said. (GMA Integrated News)
