Photo credit: AMLC
MANILA — The Philippines’ Anti-Money Laundering Council (AMLC) told lawmakers that bank transactions totaling approximately ₱6.7 billion linked to Vice President Sara Duterte and her husband, lawyer Manases Carpio, were flagged by financial institutions as either “covered” or “suspicious,” according to testimony presented before the House Committee on Justice.
The disclosure forms part of congressional proceedings reviewing financial records in connection with impeachment complaints against the Vice President, with lawmakers shifting toward documentary evidence, including asset declarations and banking data.
Financial trail surfaces in congressional review
AMLC Executive Director Ronel Buenaventura said the agency’s database recorded hundreds of reportable transactions from 2006 to 2025 involving accounts associated with Duterte and Carpio.
The total flagged amount reached about ₱6.7 billion, with roughly ₱3.7 billion linked to Duterte and ₱2.9 billion to Carpio, based on figures presented during the hearing.
More than 600 transactions were included in the report, reflecting both routine reporting thresholds and transactions flagged by banks for irregular patterns.
What flagged transactions mean under Philippine law
Under the Anti-Money Laundering Act, banks are required to report:
covered transactions, or single-day movements exceeding ₱500,000; and
suspicious transactions, identified based on indicators such as unusual volume, inconsistent financial behavior, or other risk markers.
AMLC officials emphasized that these classifications are regulatory triggers, not determinations of wrongdoing.
The Anti-Money Laundering Council serves as the country’s financial intelligence unit, consolidating such reports for analysis and potential investigation.
Lawmakers pivot to documentary scrutiny
House Committee on Justice Chair Rep. Gerville Luistro said proceedings are entering a phase focused on financial documentation, including statements of assets, liabilities and net worth (SALNs), tax filings, and AMLC records.
Lawmakers indicated that the inquiry will assess whether financial flows are consistent with declared assets and income, with further hearings expected to examine specific transactions in detail.
Duterte camp disputes implications
Statements attributed to the Vice President’s camp have questioned the interpretation of AMLC findings, emphasizing that flagged transactions are not evidence of unlawful conduct.
Allies and representatives have argued that large transaction volumes may reflect legitimate financial activity accumulated over many years, and that AMLC reports consist of raw banking data requiring context and verification. They also stressed that any conclusions should be reached only through proper legal and constitutional processes, not preliminary legislative review.
The camp has further cautioned against premature public conclusions, noting that no formal case has established wrongdoing related to the reported figures.
No finding of liability at this stage
As of the latest hearings, no court has established criminal liability in connection with the flagged transactions. AMLC officials reiterated that the figures presented are indicative of reportable activity, not proof of illicit conduct.
Under Philippine law, any determination of wrongdoing would require investigation, case build-up, and adjudication before the appropriate courts or constitutional bodies.
Next phase centers on forensic review of financial records
Lawmakers said the next phase will involve deeper examination of financial records and possible requests for clarification from relevant parties. The AMLC data is expected to form part of the evidentiary record as the House continues its evaluation of the complaints before it.
