Law on Secrecy of Bank Deposits(R.A No. 1405 s.1955) 10.

1 TOPICS PURPOSE To encourage people to deposit their money in banking institutions and to discourage private hoarding so that the same may be properly utilized by the banks in authorized loans to assist in the economic development of the country. PROHIBITED ACTS EXCEPTIONS 1. written permission of depositor 2 in cases of impeachment 3. upon order of the court in cases of Bribery or Dereliction of duty of public officials or 4. where money deposited is the subject matter of a litigation GARNISHMENT OF DEPOSITS SAFETY DEPOSIT BOX 10.2 CASES UNEXPLAINED WEALTH EXCEPTION GARNISHMENT OF DEPOSIT CONCEALMENT OF ILLEGALLY ACQUIRED PROPERTY CASE PENDING IN COURT REQUIRED BEFORE OMBUDSMAN CAN EXAMINE BANK ACCOUNTS