PDP-LABAN bets call for lifting of bank secrecy law for gov’t officials

By on March 10, 2016


Vice-presidential candidate Sen. Alan Peter Cayetano (left) and Presidential candidate Rodrigo Duterte. (Photo courtesy of Sen. Cayetano's official Facebook page)
Vice-presidential candidate Sen. Alan Peter Cayetano (left) and Presidential candidate Rodrigo Duterte.
(Photo courtesy of Sen. Cayetano’s official Facebook page)

MANILA—PDP-LABAN standard bearer and Davao City Mayor Rodrigo Duterte and his running mate Senator Alan Peter Cayetano, announced that they will call for the lifting of the bank secrecy law for public officials if successful in the May 9 elections.

Cayetano noted that the country’s bank secrecy law, which is among the strictest in the world, has become a major hindrance in resolving many corruption and money laundering cases in the public sector.

“Public officials can easily dip their hands on the nation’s coffers because somehow, our legal system allowed them to conceal their true wealth through dummy accounts. Bolder solutions are needed to end this disorder,” Cayetano pointed out.