LIBRT: Public officials and employees should be excluded from the protection of bank secrecy laws.

NECESSITY- not necessary because the current bank secrecy law and SALN law provides enough
measures to ensure transparency of public officers since public office is a public trust and they are
accountable to the public.

Rebuttal:
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For my constructive, Bank Secrecy Law was enacted to encourage the people to deposit their
money in a banking institutions and to discourage private hoarding for proper utilization of money for the
betterment of the economy of the Philippines. Under the said law, secrecy of bank deposits whether in
savings or current accounts remains a basic state policy.

Excluding public officials and employees from the protection of bank secrecy law is not necessary
for the legislature compels them to submit their Statement of Assets, Liabilities and Net Worth upon
assumption of their offices in compliance with Sec. 17, Art. XI of the 1987 Constitution and Sec. 8 of RA
6713. The reason of which is to ensure transparency in relation to their finances since public officials and
employees are at all times accountable to the public and as a means to eradicate graft and corruption
cases. One of the information included in SALN is cash on hand or in bank as per Sec. 8, par. A,
subparagraph C of RA 6713. Thus, thru SALN, public officials and employees’ money in the bank is
monitored. If the public officials and employees are to be excluded from the protection of bank secrecy law
invoking transparency purposes, the main purpose why SALN is required by our Constitution and RA
6713 would be undermined.

Another point to be taken why exclusion of public officials and employees from the protection of
bank secrecy law is not necessary is because bank accounts in the Philippines are governed by right to
privacy enshrined in Sec. 2 of Bank Secrecy Law as ruled by the Supreme Court in Republic v. Eugenio. It
was further ruled in the said case that secrecy of bank deposits is the general rule and it falls within the
zones of privacy recognized by the laws in the Philippines by reiterating the case of Ople v. Torres.
Furthermore, the framers of the 1987 Constitution likewise recognized that bank accounts cannot be
subject of right to information or full public disclosure. As such, privacy of bank deposits, as state policy
must be regarded. We should not disregard the different rulings made by the Supreme Court. In Tatalon
Barrio Council v. Chief Accountant of BPI it was ruled that savings and current accounts are privileged
documents which fall within the protection of Bank Secrecy Law. Also in Chavez vs PCGG it was ruled
that bank transactions are exempted from compulsory disclosure as part of restrictions in the exercise of
right to information. From that, excluding public officials and employees from the protection of bank
secrecy law will be depriving them their constitutional right of right to privacy. Such right to privacy is
enjoyed by every single individual regardless of the offices they are holding. Moreover, public officials and
employees are entitled to be secured in their property and papers as mandated by the 1987 Constitution.
 Hence, public officials and employees must be included in the protection of bank secrecy law, for
the constitution, pertinent laws and the Supreme Court rulings gives sufficient emphasis that bank
deposits are indeed made to be confidential and can only be disclosed under its certain exemptions.