Bill Type
Congress Name
Long Title
AN ACT AUTHORIZING THE BANGKO SENTRAL NG PILIPINAS (BSP) AND PHILIPPINE DEPOSIT INSURANCE COMPANY (PDIC) TO LOOK INTO DEPOSITS OF ANY BANKING INSTITUTION TO PREVENT, DETECT, PROSECUTE AND PUNISH MONEY LAUNDERING AND SIMILARLY PROTECT THE FILIPINO DEPOSITORS FROM ANY ILLEGAL BANKING ACTIVITIES WHICH LEAD TO THE CLOSURE OF BANKS THEREBY AMENDING REPUBLIC ACT NO. 1405 AND FOR OTHER PURPOSES
Date filed
July 2, 2001
Scope
Urgent Bill
No
Legislative History
| House Bill/Resolution NO. House Bill No. 282, 12th Congress of the Republic | |
| FULL TITLE : AN ACT AUTHORIZING THE BANGKO SENTRAL NG PILIPINAS (BSP) AND PHILIPPINE DEPOSIT INSURANCE COMPANY (PDIC) TO LOOK INTO DEPOSITS OF ANY BANKING INSTITUTION TO PREVENT, DETECT, PROSECUTE AND PUNISH MONEY LAUNDERING AND SIMILARLY PROTECT THE FILIPINO DEPOSITORS FROM ANY ILLEGAL BANKING ACTIVITIES WHICH LEAD TO THE CLOSURE OF BANKS THEREBY AMENDING REPUBLIC ACT NO. 1405 AND FOR OTHER PURPOSES | |
| ABSTRACT : This bill seeks to amend Republic Act 1405 or the Bank Secrecy Law. It allows examiners only from the BSP, PDIC, to look into records of depositors and transactions of banks not only to ensure that these banks are in healthy condition, but most importantly tnat no laundered money is deposited. | |
| PRINCIPAL AUTHOR/S : TEVES, HERMINIO G. | |
| DATE FILED : 2001-07-02 | |
| SIGNIFICANCE: NATIONAL | |
| CO-AUTHORS : | |
| 1. Zialcita | |
| CO-AUTHORS (Journal Entries) : | |
| 1. Cuenco (011 ) | 2. Badelles (016 ) |
| ADMINISTRATION BILL? No | |
| URGENT BILL? No | |
| ACTIONS TAKEN BY THE COMMITTEE | |
| COMMITTEE ACTION: jt. ref'ls as per J.17;p.15( Aug. 28,2001) | |
| MOTHER BILL: House Bill No. 3083, 12th Congress of the Republic | |
| ACTIONS TAKEN BY THE COMMITTEE ON RULES | |
| REFERRAL TO THE COMMITTEE ON BANKS AND FINANCIAL INTERMEDIARIES ON 2001-07-24 | |
| SECONDARILY REFERRED TO THE COMMITTEE(S) ON ECONOMIC AFFAIRS, JUSTICE |
Abstract
This bill seeks to amend Republic Act 1405 or the Bank Secrecy Law. It allows examiners only from the BSP, PDIC, to look into records of depositors and transactions of banks not only to ensure that these banks are in healthy condition, but most importantly tnat no laundered money is deposited.
Disclaimer
Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.