BRISTOL, BRYAN S.

FINAL EXAMINATIONS
BSA401 JUNE 24, 2021

Answer the following questions in your own words. Copying and Pasting from any Literature is STRICTLY
PROHIBITED. Cheating in any form will invalidate your answer.
1. Pick any topic you are familiar with and discuss thoroughly.
The Republic Act No. 9160, also known as the Anti-Money Laundering Act of 2001, exists
to prevent money laundering actions in the Philippines. The act includes offenses and prosecution
of those who committed such acts. It also created the Anti-Money Laundering Council or AMLC,
which is responsible for the whole act and process for handling these cases.
2. Why is bank secrecy essential in the world today?
One of the main functions of the Bank Secrecy Law is to encourage people to deposit their
money on the bank and therefore, avoiding the hoarding of money. When money is not being
circulated, the supply of money in the country will fall and can result in devastating events with
regards to our country's economy. Having the money circulated is essential especially today that our
economy is falling because of pandemic. We need more money to be circulated to assist the
development of economy.
3. What items are covered by RA8293?
The republic acts 8293 is also known as the "Intellectual Property Code of the Philippines"
where it aims to protect the rights of people on their intellectual properties. This law covers:
copyrights and related rights; trademark and service marks; geographic indicators; industrial designs;
patents; layout-designs or topographies of integrated circuits; and protection of undisclosed
information.
4. What are the three types of information covered in the Data privacy act?
The data privacy act of the Philippines covers three types of information namely personal,
sensitive, and privileged information. Personal information is the general information relating to the
identity of the person. On the other hand, sensitive personal information is also information relating
to person's identify but more particular and confidential. Lastly, privileged information is an
information formed by the exchange of two parties, which is private between them.
5. When can privileged information be divulged?
There are cases that privileged information can be divulged, and one of them is when there
is a harm or threat of harm to involved people. One example is the privileged information between a
psychiatrist and a patient. If the psychiatrist believes that the patient may harm themselves due or
something that endangers themselves or people around them, the psychiatrist may disclose their
exchanged privileged information to avoid it.