Through several administrations and for many years now, Congress has been urged to ease bank secrecy laws in connection with certain offenses. Among the biggest advocates of easing bank secrecy laws are the anti-money laundering police and those tasked to go after tax evaders. Now, perhaps the proposal can gather momentum in Congress, with President Duterte pitching for lifting bank secrecy laws in connection with fraud cases. Last week the President signed the tax amnesty law, but vetoed a provision granting general amnesty for all unpaid internal revenue taxes. His line-item veto sends a strong message about his push for lifting the veil of secrecy protecting dirty money.

Source: Philippine Star February 19, 2019 16:00 UTC