Senator Francis “Kiko” Pangilinan raised questions as to why Landbank of the Philippines Malolos Highway Branch released P457 million in cash in just two days to Syms Construction owner Sally Santos, one of the Department of Public Works and Highways (DPWH) contractors involved in the multi-billion infrastructure corruption issue.
“Ma’am, practice ba yan ng bangko na magre-release ng P457 million cash? Hindi ba red flag na yan dapat nire-report? Ang gusto natin malaman nito eh complicit ba ang banking system natin sa ganitong klaseng corruption?,” the senator asked LandBank Malolos Highway head Ma. Lilibeth Lim.
“Paano nangyayari na daang milyon, kalahating bilyong piso parang pikit mata ang ating banking system?,” he continued.
Pangilinan expressed his concerns over how a state-owned bank allowed transactions amounting to hundreds of millions of pesos after Santos admitted that she was able to withdraw P457 million in cash to deliver to former DPWH Bulacan 1st District assistant engineer Brice Hernandez.
“Bakit hindi checke o manager’s check? Bakit walang patakaran ang bangko na ‘Teka muna,’” he asked. “Kasi kapag may checke, meron din paper trail kaya cash, kaya P500 million cash sa loob ng dalawang araw.”
“Hindi napapansin ng ating government bank pa ho ito at most likely alam niyong government funds yung binayad don sa kliyente niyo,” he furthered.
Under the law, Philippine banks can file either a covered or suspicious transaction report if a withdrawal goes beyond the P500,000 threshold, Pangilinan pointed out.
“So, hindi suspicious transactions yung kalahating bilyon na dalawang araw nilabas na cash?,” he asked the LandBank manager.
“As a bank manager, it’s hard to believe na hindi kataka-taka na sa loob ng dalawang araw yung pondo ng gobyerno pwede ilabas na kalahating bilyong piso na basta-basta cash,” the senator stressed.