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Bill vs drug money

  • Written by Bernadette E. Tamayo
  • Published in Nation
  • Read: 314

SUSPECTED drug pushers, manufacturers, importers and their financiers can no longer hide their ill-gotten money in banks if the proposed measure of Sen. Panfilo Lacson is passed into law.

Lacson filed Senate Bill No. 1025 amending the Republic Act 9165 or Bank Secrecy Law. It seeks to authorize the examination of bank deposits, accounts of alleged pushers, manufacturers, cultivators, importers and financiers of dangerous drugs.
He said that SBN 1025, which strengthens the Comprehensive Dangerous Drugs Act of 2002, “is a proactive move to support the government’s unrelenting war against illegal drugs.”
“Experiences of the past tell us that our country’s high regard to the secrecy of bank deposits results to law enforcers’ limited authority in terms of confiscation and forfeiture of money or proceeds of the sale or trade of illegal drugs,” said Lacson.
He said that SBN 1025 is in line with the Philippines’ obligation under the United Nations Convention Against Illicit Traffic in Narcotic Drugs and Psychotropic Substance (Vienna Convention).
SBN 1025 allows the Philippine Drug Enforcement Agency (PDEA), Philippine National Police (PNP) and National Bureau of Investigation (NBI) to seek written court orders for the examination of bank records of a depositor allegedly involved in drugs.
Special divisions of the Court of Appeals (CA) that would issue such court orders will be designated by the Supreme Court, one each for Luzon, Visayas and Mindanao.