Manila: The Anti-Money Laundering Council (AMLC) on Wednesday disclosed to the House of Representatives Committee on Justice that bank accounts associated with Vice President Sara Duterte and her husband, lawyer Manases Carpio, have been flagged multiple times for suspicious and covered transactions from 2006 to 2025, amounting to a total of PHP6.77 billion.
According to Philippines News Agency, AMLC Executive Director Ronel Buenaventura confirmed during the committee hearing that the agency had flagged certain transactions in their system. He revealed that there were 313 covered transactions and 17 suspicious transactions identified in Duterte’s accounts, and 317 covered transactions and 16 suspicious transactions in Carpio’s accounts. The combined total of flagged transactions amounted to PHP3.77 billion linked to Duterte’s accounts and PHP2.99 billion to Carpio’s.
Buenaventura provided details on the inflow and outflow of funds, indicating an inflow of PHP1.83 billion into Duterte’s accounts and PHP2.59 billion into Carpio’s, totaling PHP4.43 billion in deposits. The outflow involved PHP1.21 billion withdrawn from Duterte’s accounts and PHP343.32 million from Carpio’s accounts. Additionally, PHP791.1 million in transactions could not be clearly determined based on available records.
There was a noted increase in Duterte’s bank transactions, particularly in 2007 when it surged to PHP208.15 million. The transactions further intensified between 2009 and 2013, averaging more than PHP400 million annually. Specific annual figures included PHP704.93 million in 2009, PHP597.15 million in 2011, and PHP648.58 million in 2010.
Overall, the AMLC recorded a total of PHP3.92 billion across 417 transactions from 2005 to 2026, with financial activity decreasing in recent years. The transactions primarily involved credit memos amounting to PHP1.41 billion, debit memos at PHP1.03 billion, and fund transfers totaling PHP521.86 million. Other transactions included time deposit pre-terminations of PHP218.74 million and miscellaneous transactions of PHP209.29 million.
Manila Rep. Joel Chua observed that these bank transactions were not reflected in Duterte’s Statements of Assets, Liabilities and Net Worth (SALNs). Bicol Saro Party-list Rep. Terry Ridon also reviewed the transaction figures alongside Duterte’s declared net worth in her SALNs, noting a significant gap between the financial activity and her declared personal assets.
Buenaventura explained the classification of covered and suspicious transactions, highlighting that covered transactions involve bank deposits exceeding PHP500,000 in a single day, automatically reported to the AMLC. Suspicious transactions are flagged for potential illegitimacy, including links to unlawful sources, regardless of the amount.
The AMLC provided the Justice Committee with reports on covered and suspicious transactions related to Duterte and Carpio from 2006 to 2025, as indicated in the subpoena. Buenaventura clarified that the AMLC has been continuously monitoring flagged transactions and that the latest report includes data from earlier years.
Buenaventura emphasized that the AMLC focuses on data and transactional patterns rather than individuals. “We are after the money, not the person behind the money,” he stated.
