[ap-intact] COMMENTARY: 'Financial trails of corruption in the Philippines'

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"One of the strongest lobby groups that have emerged of late in the Philippines is of the banking sector, specifically involving the proposed relaxation of the country’s antiquated Bank Secrecy Law. Such are the unseen hands behind the continued refusal by Congress, specifically of key members of the House of Representatives, to amend what is currently regarded as one of the few banking laws in the world that adheres to such strict rulings. As has been reported many times, the Philippines, Switzerland, and Lebanon are the only three countries left today in the whole world that prohibit concerned government agencies to bypass bank secrecy laws when pursuing tax evasion probates."

More from Rey Gamboa, in Philippine Star. http://www.philstar.com/business/2015/10/13/1509944/financial-trails-corruption

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