HB 3196
House·20th Congress·Filed Aug 6, 2025
An Act Promoting Transparent Governance and Instituting Anti-Corruption Mechanisms in the Operation of Banks and Other Financial Institutions, Amending for the Purpose Republic Act No. 1405, Entitled “an Act Prohibiting Disclosure of or Inquiry Into, Deposits with Any Banking Institution and Providing Penalty Therefor”
In plain language
The proposal would let the central bank (BSP) look into bank deposits of owners and officials when there is reasonable suspicion of fraud or illegal activity, even for closed banks, while keeping the results confidential and sharing them only with certain government agencies for crime‑prevention purposes. It also shields banks and their staff from liability when they comply with a BSP order, bans unauthorized disclosure of deposit information, and increases penalties for violations.
Government AdministrationPublic Order and SafetyJustice and Judiciary
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HB03196 · Sources: BetterGov Open Congress, BatasWatch