On Duterte's Undisclosed Bank Accounts: Will You Still TRUST him?

One of the greatest characteristics of Philippine politics is that no one leaves unscathed. Mudslinging is a normal scenario amplified by the local news stations and crab mentality a standard trait of all. But what if the basis of all these steamy actions is true and valid?

The latest of all these drama that the presidential elections cause is issue bank accounts allegedly containing bloated millions by thepresidential lead Rodrigo Duterte. If what senator Antonio Trillanes IV claims to be true, the existence of a P211 million peso bank account, then forerunner Duterte will face a lot of sanctions including a wrongly declared statement of assets and liabilities or SALN.

As of the writing of this article, various deposits were made to the bank account posted by the national newspaper Philippine Daily Inquirer. For now, we do know that there is indeed an existing bank account under Duterte and his daughter’s name.  

Both Duterte and Cayetano are transparent? You think so?

Though he and his running mate Alan Peter Cayetano are in favor of transparency in bank accounts of both local and foreign, the bank secrecywaiver that they signed is deemed moot.



From a banker’s point of view, a bank secrecy waiver is actually a formal document containing the written permission by the depositor and all the information about the account or accounts in question. It specifically implies that the waiver opens such information that is protected otherwise by the Republic Act No. 1405 or simply the Law on Secrecy of Bank Deposits. Therefore, technically, the waiver both Duterte and Cayetano signed is moot. They may have been in favor of transparency of bank accounts of all the presidential and vice presidential candidates but they still have to sign the real deal to be able to put the essence of the waiver in action. Otherwise, a bank cannot do anything with it. Simply put, the intent is there, the action is not.

So if Duterte is as clean and innocent as he claims to be, then why does he refuse to sign a formal bank secrecy waiver? He did admit that he owns several bank accounts at that specific Bank of The Philippine Island branch; though he said that it only contained thousands of pesos not millions as what Trillanes claims. IF that is the case, why then did he refuse to sign the waiver? Is he hiding something? Perhaps in the form of millions of pesos unaccounted for? Something undeclared? Something that is not commensurate to one’s sources of income?

One might begin to think, what else are the possible forms of betrayal we might have to face as voters? We haven’t even elected a president yet, but we are already facing betrayals of trust in the form of blatant lying and obstruction to truth and transparency. His bid for the presidential seat has already been tarnished not by one but many things. First was the issue of his vulgarity and viciousness offending the highest leader of the Roman Catholic Church and the women population of local and international backgrounds.


Next was the issue surrounding his persona regarding unaccounted deaths and support for mass vigilantes that he blatantly admits. Another, his stand on Philippineterritorial disputes that obviously favors the Asia’s giant, which is China and puts the country at dregs. Finally, his stand of being in favor with federalism and paying of NPA taxes, which would aggravate not alleviate the situation in the southern part of the country.

Trust is always a basis in leadership. One cannot possibly respect and follow an elected leader’s administration if the leader is, in the first place, untrustworthy. Though one single vote seems to be nil, collectively, we can change the course of our nation. Putting our votes on a candidate is tantamount to putting our trust in them. With our votes, our elected leaders are trusted to lead us into progress that is felt and development that is sustainable. We see these leaders as our guides to better living conditions and more humane days. Given these, what are the characteristics of a leader do you want to follow? Surely not someone with just an intention but no action.