Bill on BSP access to suspicious bank accounts urged as priority —DBM

The Bangko Sentral ng Pilinas has proposed the inclusion in the Marcos administration's priority bills the measure allowing the BSP to open bank accounts suspected of being used for money laundering and terrorism, Budget Secretary Amenah Pangandaman has said.

In an interview after President Ferdinand "Bongbong" Marcos Jr. convened the Legislative Executive Development Advisory Council on Wednesday, Pangandaman said the BSP also proposed that the Anti-Financial Account Scamming Bill be among the administration's legislative priorities.

"Apparently, we're the only country left in the world who hasn't passed Bank Secrecy. It is only Lebanon pala and the Philippines. But Lebanon passed it last year. So we need to have one. And the Anti-financial Account Scamming Act or the AFASA bill," Pangandaman said in an interview with reporters.

According to the DBM chief, the proposed Bank Secrecy Law would help in addressing money laundering cases in the Philippines. This will give BSP the authority to open bank accounts which could later be shared to courts and other necessary agencies, she added.

"It will help 'yung for money laundering cases, problems on terrorism and if there's court cases really need evidence or documents that will show that there are problems or meron talagang issue with regards to money, so the Bangko Sentral can open their accounts but it is only Bangko Sentral ng Pilipinas ha, only exclusive for use of Bangko Sentral ng Pilipinas and maybe shared only with the SEC, PDIC, AMLC, DOJ and other courts," she said.

Meanwhile, the Anti-Financial Account Scamming Act will help in deterring cybercrime, Pangandaman said.

"Ito po yata pag may problem on phishing as well as money mules that will be penalized by the law," Pangandaman said.

Pangandaman further enumerated the priority measures that the administration aims to pass by December 2023. These include:

• The amendments to the BOT law or the PPP bill,
• National Disease Prevention Management Authority,
• Internet Transactions Act or E-commerce law,
• Medical Reserve Corps,
• Virology Institute of the Philippines,
• Mandatory ROTC and NSTP,
• Revitalizing the Salt Industry,
• Valuation Reform,
• E-government or E-governance Act,
• E-sustain Taxes,
• National Government Rightsizing Program,
• Unified System of Separation, Retirement and Pension of MUPs,
• LGU Classification,
• Waste to Energy Bill,
• New Philippine Passport Act,
• Magna Carta of Filipino Seafarers,
• National Employment Action Plan, and
• Amendment to the Anti-agricultural Smuggling Act

Congress

Senate President Juan Miguel Zubiri said they proposed to add nine additional bills in the Common Legislative Agenda, on top of the 42 bills listed in the agenda.

“It was a productive meeting, and President Marcos was very participative, with his questions on the problems and bottlenecks in some of the bills,” Zubiri said.

Zubiri said among the nine proposed bills for inclusion are the Philippine Defense Industry Development Act (PDIDA), the Cybersecurity Law, and amendments to the procurement provisions of the AFP Modernization Act.

Zubiri also said two education bills—the Academic Recovery and Accessible Learning (ARAL) Program Act and the Batang Magaling Act—were also proposed for inclusion, as well as the Safe Pathways Act, the Open Access in Data Transmission Act, the Tatak Pinoy Act, and the Blue Economy Act.

On the other hand, the House of Representatives proposed 15 additional bills on agriculture, industry and services, infrastructure, digital regulatory frameworks, transport, good governance, energy, environment, and domestic resources. These include the Excise Tax on Single-Use Plastic, the Sustainable Urban Mobility Act, and the act rationalizing Motor Vehicle User’s Charge.

During the meeting, Zubiri also gave updates on the remaining CLA measures in the Senate, led by the National Employment Action Plan, which has already been approved on third reading.

“Of the remaining 35 measures in the Common Legislative Agenda, nine are pending on Second Reading in the Senate and all nine have been approved on Third Reading in the House,” Zubiri said.

These nine are the National Disease Prevention Management Authority or the Center for Disease Control Act, the Mandatory Reserve Officers Training Corps and NSTP Act, the Internet Transactions Act, the Amendments to the Build-Operate-Transfer Law or the Public-Private Partnership Act, the act Revitalizing the Salt Industry, the Magna Carta for Filipino Seafarers, the New Philippine Passport Act, the LGU Income Classification Act, and the Ease of Paying Taxes Act. —NB, GMA Integrated News