SB 1047

Senate·20th Congress·Filed Aug 6, 2025

Amending Sec. 2 of R.a.. No. 1405 (Secrecy of Bank Deposits Law)

An Act Amending Republic Act No. 1405, Otherwise Known as the Secrecy of Bank Deposits Law

In plain language

The bill keeps bank deposits confidential but adds new exceptions that let the central bank examine accounts when it reasonably suspects fraud or other illegal activity, or when a court orders it.

Public Order and SafetyGovernment AdministrationBusiness, Trade and Industry

Automated summary by BatasWatch. It may miss nuance — read the bill text before citing it.

Author · Senator

Jinggoy Ejercito-Estrada
SenatorJose "Jinggoy" Ejercito-Estrada Jr
Receipts →

Subjects

Bank Secrecy Law

Official sources

Similar in what they’d do, filed by any lawmaker.

SB 1649· Filed Jan 7, 2026
Amending R.A. No. 1405 (The Secrecy of Bank Deposits Law)
Consolidated/substituted in the committee reportSen. Raffy T. Tulfo
SB 1364· Filed Sep 9, 2025
Amending Republic Act No. 1405 (Bank Secrecy Act)
Consolidated/substituted in the committee reportSen. Erwin T. Tulfo
HB 4388· Filed Sep 8, 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"
Substituted by HB06707Rep. Bryan B. Revilla +2
HB 9159· Filed May 7, 2026
An Act Providing Exceptions to the Confidentiality of Bank Deposits for Public Officials, Amending for the Purpose Republic Act No. 1405, Otherwise Known as the �secrecy of Bank Deposits Law,� Requiring the Disclosure and Verification of Certain Bank Deposits and Investments of Such Officials, and Prescribing Penalties for Violations Thereof
Pending with the Committee on BANKS AND FINANCIAL INTERMEDIARIES since 2026-05-12Rep. Elijah Rumbaoa San Fernando
SB 150· Filed Jul 7, 2025
Amending R.A. No. 1405 (Secrecy of Bank Deposits Law)
Consolidated/substituted in the committee reportSen. Juan Miguel "Migz" F. Zubiri

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SBN-1047 · Sources: BetterGov Open Congress, BatasWatch