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OCTOBER 16, 2014

PD 1405 – SECRECY OF BANK DEPOSITS ACT

 You cannot inquire into the bank deposits of anbod as a ru!e"

#ection 2 $ %!! deposits of &hate'er nature &ith banks or bankin( institutions in the

)hi!ippines inc!udin( in'est*ents or bonds issued b the +o'ern*ent of the)hi!ippines and po!itica! subdi'isions, instru*enta!ities are hereb considered as ofabso!ute! condentia! nature and *a not be e-a*ined, inquired or !ooked into ban person, (o'ern*ent o.cia! or o.ce E/CE)T

1" pon &ritten per*ission of the depositor2" n cases of i*peach*ent

Corona *peach*ent $ 3e did not &ant to disc!ose his do!!ar accounts" h5 he&as standin( on stron( !e(a! (rounds"

RA 6426 – Foreign Currenc De!o"i#" Ac#

#ection $ a!! forei(n currenc deposits authori7ed under this act as &e!! as

other forei(n currenc deposits are hereb dec!ared, considered an abso!ute!condentia! nature and E/CE)T upon &ritten per*ission of the depositor, in noinstance sha!! his deposit be e-a*ined, re'ie&ed, inquired or !ooked into b anperson, o.cia!, bureau or o.ce &hether 8udicia!, ad*inistrati'e or !e(is!ati'e oran other entit &hether pri'ate or pub!ic" )ro'ided ho&e'er, this forei(ncurrenc sha!! be e-e*pt fro* attach*ent, (arnish*ent or an other !a&fu!order or process of the court, or an (o'ern*ent a(enc"

3ere, &ritten consent is the O9:Y e-ception"

;" n case of order of the court in cases of briber, dere!iction of dut of pub!ico.cia!s

But this is a!!e(ed! use!ess because ou are supposed to be !ookin( for i!!

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#a!ient >eatures

1" Cri*ina!i7es *one !aunderin("

Before this %ct, there &as no !a& punishin( *one !aunderin("

2" denties predicate o?enses"

%!! these *one co*es fro* so*e&here" e are after those *one kaatinata&a( si!an( dirt *one, because these are fro* cri*ina! o?enses, ca!!edpredicate o?enses"

Co*p!iance Require*ents

1" dentif @@@@@"

Ai na p&ede un( (ina&a ni Erap dati na e!arde %ccount" ust be identieda!read"

2" nstitutiona!i7e the reportin( of suspicious transcations";" >ree7in( accounts D forfeiture of *one for i!! (otten *one transactions"

E!e*ents

1" n!a&fu! acti'it D predicate cri*es2" onetar instru*ent or propert;" %tte*pt to transact4" no&!ed(e that *onetar instru*ent or propert proceeds fro* the un!a&fu!

acti'it

9:%>: %CTTY D)REAC%TE CRE#

%n act or o*ission, series or co*bination of un!a&fu! acts" n!ike )!under naserious or co*bination, dito p&ede sin(!e act !an( ta!a(a" But it can a!so beco*bination of acts" Basta it has so*ethin( to do &ith

1" idnappin( &ith ranso*2" Aru( tra.ckin( R% ;01F;" )!under4" Robber e-tortionG" Hua!ied theft6" #&ind!in(I" #*u((!in(" %rsonF" urder10"#EC11">e!onies and o?enses of a si*i!ar nature Jtrans

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 There are transactions in cash or other equi'a!ent *onetar instru*ent in'o!'in( atota! *one in e-cess of G00 &ithin 1 da" t co'ers suspicious transactions andco'ered transactions of co'ered institutions"

hat are co'ered institutions5

 These are the banks or entities required under the !a& to report co'ered and

suspicious transactions" This inc!udes banks, a!! other entities, subsidiariesa.!iated, re(u!ated b the B#)" nsurance co*panies, preree7e order

t on! takes a reso!ution fro* %:% !in( e- parte petition to the C% &ho &i!! issuethe free7e order after ndin( probab!e cause" t is e?ecti'e for 20 das un!esse-tended b C% upon *otion b %:% not e-ceedin( 6 *onths" Aurin( thee?ecti'it, %:% can a'ai! itse!f of other re*edies, inquiries, forfeiture,

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!in( of %:% case" Co'ered institutions sha!! not !ift the free7e order &ithoutsecurin( the o.cia! conr*ation of the %:%"

9o court *a issue TRO or rit of pre!i*inar in8unction e-cept the #C" This is toprotect the po!iticians &a!a si!an( funds pan( e!ection" 9o asset of an e!ectora!candidate sha!! be fro7en durin( an e!ection period"

Ci'i! >orfeiture

Reco'er of i!! (otten &ea!th is i*prescriptib!e, that is ci'i! forfeiture" There is noneed of prior con'iction" %:%, under this !a&, on! (rants ci'i! forfeiture" t is on! apetition directed to the propert" Murisdiction o'er the person is not necessar"

%ttach*ent bond

hen the #tate !iti(ates, it is not required to put up a bond for da*a(es or e'en anappea! bond" This is not required"

Cri*ina! >orfeiture

 There is a need of prior con'iction because he a*assed i!!