MANILA — Financial transactions flagged by the Anti-Money Laundering Council (AMLC) involving Vice President Sara Duterte-Carpio and her husband, Maneses Carpio, cannot by themselves establish money laundering or any other criminal activity, the agency clarified during the Vice President’s impeachment trial on Tuesday.
AMLC Secretariat Executive Director Ronel Buenaventura stressed that suspicious transaction reports (STRs) and covered transaction reports (CTRs) are indicators that may warrant closer scrutiny, but are not conclusive evidence that a crime has been committed.
Buenaventura made the clarification on the 34th day of Duterte-Carpio’s impeachment trial as defense lawyer Mark Vinluan questioned whether the financial records presented by the AMLC could independently establish links between transactions involving the Vice President and allegations surrounding the flood control controversy, drug trafficking or misuse of government funds.
“We have to conduct pa po analysis and investigation, if warranted,” Buenaventura said. “Not alone, we have to conduct further investigation if needed or warranted.”
Vinluan also asked whether CTRs and STRs involving corporations associated with Duterte-Carpio and Carpio were sufficient to establish that the couple had committed money laundering.
“On the basis of the CTRs and STRs alone, not at that point,” the AMLC executive said.
Buenaventura’s testimony provided context to financial records presented a day earlier by the AMLC, which included several transactions involving Duterte-Carpio and Carpio that had been flagged for possible links to alleged wrongdoing.
STRs are filed by banks and other covered institutions when transactions exhibit red flags or unusual characteristics under the Anti-Money Laundering Act. The filing of an STR does not automatically mean that the transaction or the persons involved have committed an illegal act.
Among the transactions raised during the trial were premium payments made to The Mercantile Insurance Co. on July 4 and Nov. 15, 2019. The transactions were flagged in connection with alleged graft and corrupt practices related to the flood control controversy.
The AMLC also presented an Aug. 1, 2024 STR involving Carpio’s PSBank accounts. The transaction was flagged for possible links to drug trafficking following criminal complaints connected to a 2017 case involving the alleged smuggling of P6.4 billion worth of shabu.
The House prosecution panel presented the AMLC records as part of its evidence under Article II of the impeachment charges against Duterte-Carpio.
Buenaventura’s testimony, however, underscored that the flagged financial records serve as leads for analysis and possible further investigation rather than findings of criminal liability./PN
