Unwarranted Inquiry of Investigation

- Purpose is merely to determine the existence and nature as well as the amount of the
deposit in any bank.

Deposits Creating Creditor-Debtor relationship between Depositor and the Bank

- Money, Trust Account & Investment with banks or banking institutions in the phils.
(ABSOLUTELY CONFIDENTIAL AND MAY NOT BE EXAMINED)

Prohibited Acts

-To Examine, Inquire or look into such deposits :

- No Person
- Government Official
- Bureau or Office

- To disclose to any UNAUTHORIZED PERSON Information concerning deposits.

- Official or Employee of any baking institution

EXCEPTIONS:

1. UPON WRITTEN CONSENT OF THE DEPOSITOR

2. AUTHORIZED PERSON to whom information may be disclose:

Competent Court thru court order in cases involving:
- RA 3019 Anti-Graft and Corrupt Practices Act
- Bribery
- Concealment of ill-gotten wealth (recorded in the name of another)
-RA 1405 Anti-Money Laundering Act
- Dereliction of duty of Public Officials

WHEN COURT ORDER IS NOT REQUIRED:

o Cases involving AMLA with the following unlawful act:

Kidnapping for ransom
Unlawful Activities under RA 9165 Comprehensive Drugs Act
Hijacking under RA 6235
Destructive Arson
Murder (to include those perpetrated by terrorist against non-combatants)

3. BANGKO SENTRAL NG PILIPINAS (BSP)

-inquiry or examination in the course periodic or special examination

- or the PDIC inquire or examine deposits accounts in case there is a finding of
unsafe and unsound banking practice
 4. TREASURER OF THE PHILIPPINES for dormant account for at least 10 years
(sworn statement)

NOT CONSIDERED AND DISFAVOR SUPPLEMENTAL EXCEPTIONS

5. OMBUDSMAN under RA 6770 Sec. 15(8) Ombudsman Act

6. PRESIDENTIAL COMMISION ON GOOD GOVERNMENT

7. DAVIDE COMMISSION of SEC. 1(d) of RA 6382

-Reasonable grounds to support coup d eta

INDEPENDENT AUDITOR HIRED BY THE BANK TO CONDUCTS ITS REGULAR

AUDIT IS NOT WITHIN THE EXCEPTION.

GARNISHMENT: Examination of or inquiry into a bank deposit does not preclude its being
garnished to insure satisfaction of a judgment.

EXCEPTION: Foreign Currency Deposits shall be exempt from attachment, garnishment.

(Sec. 8 Foreign Currency Deposit Act)

CONFIDENTIALITY OF FOREIGN CURRENCY DEPOSITS

-GENERAL RULE : CONFIDENTIAL

EXCEPTIONS: 1. Written Permission of the Depositor

2.Order of Competent Court
- Violation of AMLA
3. BSP- Periodic or special examination
4. Treasurer of the Phils. unclaimed balances (Act 3936; PD 679)
5. BSP/PDIC- finding of unsafe and unsound banking
6. Salvacion vs. CB rape case (Pro hac Vice
(purposes of Garnishment)

PENALTIES FOR VIOLATION:

-Imprisonment : Not more than 5 years
- Fine : Not more than P20,000
Either both in the discretion of the court (Sec.5)