QUESTIONS:

1. Is the law still applicable to all kinds of deposits? Both pesos and foreign deposits
under RA 1405? – Peso deposits are covered by RA 1405 while the foreign deposit is
authorized under RA 6426.

2. Let’s say there is a doubt about whether that account is absolutely confidential or
not. Is it to be resolved in favor of confidentiality or to be resolved in favor of not
confidentiality? – it must always be resolved in favor of confidentiality because that is
for the protection of the depositors.

3. One of the exceptions for the examination of an account is when there is consent
from the depositor. What do you mean by consent? Is it necessary that there must
be consent in writing? What if the depositor is silent? How will you prove that the
depositor gave consent, is it necessary that it must be in writing? Is it necessary that
it must be notarized? – it is important that the waiver must be in writing and not
necessarily notarized, the document must be a public document.

4. In the case of impeachment, is it necessary that there must be an order issued by the
impeachment court or the order of the impeachment court is not necessary to look
into the account of the person involved? – yes, you have to secure an order coming
from the impeachment court before you can inquire into the account of that person.
Follow up: Is that one limited to a peso deposit or that is also applicable in the case
of foreign currency deposit? – it also applies to foreign currency deposits, as stated in
the law that foreign currency deposits shall be exempt from attachment, garnishment, or
any other order or process of any court, legislative body, government agency, or any
administrative body whatsoever.

5. Can the Commission of Internal Revenue check into the account of the taxpayer?
Hindi ba siya isa sa exceptions sa secrecy of bank deposits? Do you need to secure a
court order before you look into the account of a person? – yes, it is one of the
exceptions upon the order of the Commissioner of Internal Revenue in respect of bank
deposits of a taxpayer who has filed an application for compromise of his tax liability by
reason of financial incapacity to pay his tax liability (Ibid).
The Commissioner of Internal Revenue is authorized to inquire into bank deposits
of a specific taxpayer upon request for tax information from a foreign tax authority
pursuant to an international convention or agreement on tax matters to which the
Philippines is a party (Ibid) d. In case of dormant accounts/deposits for at least 10 years
under the Unclaimed Balances Act (Act No. 3936, Sec. 2)
6. In the case of AMLA, are there instances when you don’t need to secure a court
order before you can look into the account of another person? - The Anti-Money
Laundering Council (AMLC) may inquire into any deposit with any bank in case of
violation of the RA 9160 or the AMLA if there is probable cause that it is related to an
unlawful activity (RA 9160, as amended, Sec. 11)
SEC. 11. Authority to Inquire into Bank Deposits. – Notwithstanding the provisions of
Republic Act No. 1405, as amended; Republic Act No. 6426, as amended; Republic Act
No. 8791; and other laws, the AMLC may inquire into or examine any particular deposit
or investment, including related accounts, with any banking institution or non-bank
financial institution upon order of any competent court based on an ex parte application
in cases of violations of this Act.

7. Other exceptions/instances please refer to our ppt.