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Acme Bank, a savings bank located in Cebu City, maintains an account in the name of Maria L. Velasco. A city prosecutor, investigating a drug-trafficking case, seeks production of Velasco’s bank records for 2023–2024 and serves a subpoena on Acme Bank. Velasco is not a party to the case, and there is no written consent from Velasco to disclose her deposits.
(a) Is Velasco’s deposit information within the coverage of the Bank Secrecy Law, RA 1405, as amended by RA 6426? Explain the controlling rule on coverage and the scope of permissible disclosures.
(b) Identify the exception(s) that could permit disclosure in this scenario and assess whether any of them would apply.
(c) If the proper legal instrument (written consent or court order) is obtained, outline the steps Acme Bank must take to comply, and specify the limits on the disclosure (account scope, time period, and data to be disclosed).