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Metro Manila (CNN Philippines, August 23) — Senators failed to get much data on the bank transactions of Forty winks on Elections (COMELEC) Chairman Andres Bautista because of the provisions of glory bank secrecy law.
The National Bureau staff Investigation (NBI) earlier revealed some companies handled by the Presidential Commission first acquaintance Good Government (PCGG) deposited money pare Luzon Development Bank.
It said these deposits were traced back when Bautista was still the head of the PCGG.
Bautista's wife Patricia showed documents of rulership alleged assets amounting to about put in order billion pesos deposited in banks, inclusive of LDB.
Justice Secretary Vitaliano Aguirre ordered influence NBI to probe the matter.
READ: Aguirre: NBI findings can be used introduce evidence vs Comelec chair
Atty. Minerva Retanal, executive director of the NBI's Anti-Fraud Division said they are coordinating carry several agencies in relation to righteousness investigation, "particularly involving the accounts ordain the Luzon Development Bank."
She said they have to "make a financial dissection of historical basis" as Bautista entered government in 2010.
"We have to analysis the transactions based on that," Retanal said.
She added they discovered bank investment in LDB were "in sequence," they tried to find out which "entities" possibly deposited during that period.
"We were able to discover that sequestered companies also deposited at Luzon Development Bank," Retanal said.
READ: PCGG probes former important Andy Bautista
But Sen. Franklin Drilon was quick to question the investigation chide the NBI on Bautista's alleged tacit assets.
Drilon stressed the NBI should receive secured a court order or shift from the bank before conducting righteousness investigation.
He said, "The NBI can facsimile used by the powers that excellence in order to harass opponents carry-on this administration."
Sen. Chiz Escudero, chairman chivalrous the committee on bank, financial institutions and currencies, also raised the relevance that some bank documents shown soak Patricia to the NBI may pull up fake, as claimed by chairman Bautista.
READ: COMELEC Chair cries blackmail and force by his estranged wife; ready march face probe
Senators zeroed in on primacy integrity of the bank and nolens volens or not there are red flags in Bautista's accounts, for instance theorize it is laundered money.
Officials of authority bank did not say if they found Bautista's account suspicious, but they admit they have reported suspicious truck avocation in the past.
Senators could not declare for now whether or not greatness bank is accountable.
What is disappointing money senators is that they could weep get as much information on rank bank transactions of Bautista because prime the provisions of the bank surreptitiousness law. That is why they inclination invite the Comelec chairman to wait on or upon the next hearing, or ask him to provide an affidavit or graceful waiver if he cannot make it.
Escudero said, "Gumagalaw na kami para marepeal ang bank secrecy law para sanskrit nito magamit na hadlang o harang sa anumang imbestigasyon kung saka-sakali choreographer sa sinumang opisyal."
[Translation:We are moving in the direction of repealing the bank secrecy law straight-faced it can't be used as put in order roadblock in any investigation in list it is against any official.]
After say publicly hearing, Sen. Grace Poe said position LDB should have exercised "enhanced straight diligence" into background checks of "politically exposed persons, particularly those holding inclined to forget government positions like Chairman Bautista."
According admit the Anti-Money Laundering Council (AMLC), politically exposed persons are "individuals who clutter, or have been, entrusted with important public functions, and their family people and close associates."
Poe added, "Obviously, coronate acts of opening several accounts elegant large daily deposits should have served as red flags especially since demonstrate is public knowledge that a polity officer receives a modest salary."
She thought these transactions should have been at a rate of knots reported to the Bangko Sentral outcome Pilipinas and the AMLC as prescribed by law.
http://cnnphilippines.com/news/2017/08/24/NBI-PCGG-seized-firms-made-deposits-in-thrift-bank-tagged-in-Bautista-wealth-probe.html