REPUBLIC ACT NO.

1405
Bank Secrecy Law
The law prohibits any person, from disclosing to
any person any information, relative to the funds
or properties belonging to the depositors in the
custody of the bank. Simply put, no one can just
go to your bank and ask for your bank balance.
The following are the exceptions to the bank secrecy law:

1. Written permission or consent in writing by the depositor;

2. In cases of impeachment;

3. Upon order of the court in cases of bribery or dereliction of duty

of public officials;

4. Upon order of the court in cases where the money deposited or

invested is the subject matter of the litigation;
5. Upon a subpoena issued by the Ombudsman concerning an
investigation it is conducting, provided that there must already be a
case pending in court, the account be clearly identified, the inspection
be limited to the subject matter of the pending case; and the bank
personnel and the depositor must be notified to be present during the
inspection;

6. The BIR can inquire into bank deposits in an application for

compromise of tax liability or determination of a decedent’s gross
estate;
7. The Anti-Money Laundering Council (“AMLC”) can examine bank accounts
pursuant to a court order, where there is probable cause that the deposits are
related to an unlawful activity or money laundering offense;

8. The AMLC can examine bank accounts, WITHOUT a court order, where
there is probable cause that the deposits are related to certain crimes such as
kidnapping for ransom, violation of the Dangerous Drugs Act, hijacking,
destructive arson, murder and violations of RA 6235 (acts inimical to civil
aviation);

9. The Bangko Sentral can examine bank accounts in the course of its periodic
or special examination regarding compliance with Anti-Money Laundering Law.