Hi! Please base the answers on the Philippine Law. Thank you!

Topic: SECRECY OF BANK DEPOSITS (Rep. Act 1405)

Questions:

1.What is the bank secrecy law in the Philippines?

2. What is the policy of the government under RA 1405?

3. What is the basic state policy regarding bank deposits?

4. Coverage of secrecy of bank deposits (What are covered in the secrecy law?)

5. What are the exceptions?

6. What are the new exceptions under Rep. Act 1405?

7. Define bank account garnishment.

8. Can foreign currency deposits be subject to garnishment?