Section 12Sec./Art. 12

Investigation and Inquiry into Financial Accounts. - The BSP shall have the authority to investigate and inquire into Financial Accounts which may be involved in the commission of a prohibited act or offense under Sections 4 and 5 hereof. The provisions of Republic Act No. 1405, as amended; Republic Act No. 6426, as amended; Republic Act No. 8367; and Republic Act No. 10173 shall not apply to Financial Accounts subject of BSP's investigation.

Any of the information gathered from the investigation or inquiry of a Financial Account by the BSP pursuant to this section may be used for the enforcement of this Act and in the implementation of relevant provisions of Republic Act No. 11765.

The authority to investigate and inquire into Financial Accounts under this section shall be exercised by a duly authorized officer or body from the BSP.

No court below the Court of Appeals shall have jurisdiction to enjoin the BSP from exercising its authority to investigate and inquire into any Financial Account under this Act.1aшphi1

An Institution, or any of its directors, officers, or employees, shall be held free and harmless from any accountability or liability for any act done in compliance with an order from the BSP for an inquiry or investigation of a Financial Account.