Bank secrecy law

1. X, a newspaper columnist, while having a bank transaction, overheard a bank teller

informing a co-employee that Y, the municipal mayor, has just P10,000 in his bank
account and that his next check might probably bounce. X wrote this information in his
newspaper column. Thus, Y filed a complaint against X for violation of the Secrecy of
Bank Deposits Act. Decide.
X, who merely overhead the remark of the bank teller to a co-employee and writing the
same in his newspaper column is neither the inquiry nor disclosure contemplated by law.
2. X is unemployed; however, he is suspected to be a jueteng operator. X has never been
charged or convicted of any crime. He has several bank accounts and purchased
several houses and lots from Y Realty Corp. amounting to P50,000,000. After that, the
Register of Deeds reported his purchased to the Anti-Money Laundering Council
(AMLC). Upon request of the AMLC, Z Bank disclosed to it X's bank deposits.
Subsequently, X was charged in court for violation of the Anti-Money Laundering Law.
Did Z Bank violated the Secrecy of Bank Deposit Act in disclosing X's bank account to
the AMLC?
No. Z bank did not violate the Secrecy of Bank Deposit Act. A bank is obliged to report to
the AMLC covered and suspicious transactions.
3. All deposits of whatever nature with banks or banking institutions in the Philippines may
not be examined, inquired of looked into by any person, government official, bureau or
office except upon.
All of the above
4. I. All deposits of whatever nature with banks or banking institutions in the Philippines
including investments in bonds issued by the issued by the Government of the
Philippines, its political subdivisions and its instrumentalities, are hereby considered as
of an absolutely confidential nature.
II. All deposits of whatever nature with banks or banking institutions in the Philippines
may not be examined, inquired or looked into by any person, government official, bureau
or office.
Both are true
5. I. It shall be unlawful for any official or employee of a banking institution to disclose to
any person any information concerning deposits.
II. The Secrecy of Bank Deposit Account does not prohibit attachment or garnishment of
bank accounts, which does not involve revealing specific information of deposits.
Both are true
6. It is hereby declared to be the policy of the Government:
I. To give encouragement to the people to deposit their money in banking institutions.
II. To discourage private hoarding.
Both are true
7. Y is the creditor of X. Upon demand, X failed to pay Y; thus, the latter filed a case
against the former. X had a savings account with Z Bank.
Subsequently, the court ordered that X's account be garnished the amount of P100,000
to satisfy the judgement in favor of Y. X complained that the garnishment violated the
Secrecy of Bank Deposit Act. Decide.
 X is not correct because pesos deposits may garnished and Y bank can comply with the
order of garnishment without violating the Secrecy of Bank Deposit Act.
8.