LandBank banker to Pangilinan: Focus on catching the big fish

As LandBank has recently been tied to huge cash withdrawals, one of its employees wrote to Senator Francis "Kiko" Pangilinan, asking the senator to "focus on trying to catch the big fish."

In a lengthy Facebook post, Bernadette Zamora asked Pangilinan to "focus on diving deeper into the ocean to catch the big fish," instead of "targeting an institution that is another casualty of a flawed system."

"The Bank itself has no authority to question duly allocated government funds. It is not our mandate to second-guess projects that, on paper, are intended to benefit the Filipino people. But you have the power to shape and strengthen systems so that taxpayers like us are finally and fully protected," Zamora said.

"Please understand that with every public remark directed at the Bank, it often feels as if our wounds are being reopened. We are not spared. Like you, we want the truth uncovered. Like you, we seek accountability for those truly responsible," she added.

Pangilinan said that while he understands Zamora's appeal, he maintained that it is both their duty, as workers in government, "to protect the interests of the public."

"I have consulted a number of private bankers in this regard, it is very difficult to defend the release of such a huge amount of money in cash from the coffers of government in a 48-hour period. Let me ask you, as a bank employee, do you consider this as standard bank practice?" Pangilinan asked.

"If so, have you likewise allowed this practice involving [Department of Public Works and Highways] accounts in your branch considering that you are defending such a practice? In addition, would the LandBank be violating any law if it instead released the amount requested in the form of a manager’s check or instrument as an additional safeguard, instead of releasing close to half a billion pesos in cash in a span of two days?" he added.

The senator stressed that he is not focusing the blame on LandBank, but he is focused on "ferreting out the whole truth."

"The people are demanding answers and want to know the truth in this flood control scam. They want to know if LandBank branches throughout the country wherein questionable flood control projects are located likewise release piles of cash in the hundreds of millions in such a manner. Is it wrong for me to inquire if this is standard banking practice considering ‘strict banking rules and regulations’ were followed in the case of the LandBank Malolos branch?" he continued.

"In addition, many bank depositors who have watched the hearings have pointed out to me that their own personal experiences in withdrawing even smaller amounts of cash go through a more rigorous process of verification by bank employees."

The online exchange came days after a Senate hearing where Sally Santos of SYMS Construction Trading admitted to withdrawing P457 million from LandBank's Malolos Highway branch in just two days, which Pangilinan questioned.

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 assistant engineer Brice Hernandez.