What acts are prohibited by this law?
The following acts are prohibited under the Secrecy of Bank Deposits law:
a. the examination and inquiry or looking into all deposits of whatever nature with banks in the Philippines (including investments in bonds issued by the Government or its political subdivisions and instrumentalities) by any person, government official, bureau or office, and
b. the disclosure by any official or employee of any bank to any unauthorized person of any information concerning the said deposits
Does this mean that my deposits are totally secret?
No. There are situations wherein your deposit may be examined, inquired about or disclosed. These are:
a. if there is written permission of a depositor
b. in cases of impeachment
c. upon order of a competent court in cases of bribery or dereliction of duty of public official
d. in cases where the money deposited is the subject matter of litigation
e. upon order of the court in cases of unexplained wealth under Sec. 8 of the Anti-Graft and Corrupt Practices Act
f. upon order of the Commissioner of Internal Revenue in respect of the bank deposits of decedent for determining the latter’s gross estate
h. upon order of the Commissioner of Internal Revenue in respect of bank deposits of a taxpayer who applied for compromise of his tax liability by reason of financial incapacity
i. upon order by the Court in cases filed by the Ombudsman and upon the latter’s authority to examine and have access to bank accounts and records
j. in cases of unclaimed balances
k. without need of court order, if the Anti-Money Laundering Council (AMLC) determines that a particular deposit or investment with any banking institution is related to any of the following unlawful activities: (i) kidnapping for ransom, (ii) violations of the Comprehensive Dangerous Drugs Act (some provisions), (iii) hijacking; destructive arson, murder, including acts by terrorists against non-combatant persons
l. upon order of the court if the AMLC determines that a particular deposit or investment with any banking institution is related to any one of the unlawful activities under Sec. 3(i), except those referred to in Section 3(i), and  of RA 9160 or a money laundering offense under Section 4,
m. inquiry of any deposit with any banking institution when the examination is made by the Bangko Sentral ng Pilipinas to insure compliance with the Anti-Money Laundering Law in the course of periodic or special examination.