MANILA, Philippines — Joel Chua said on Saturday in Quezon City that the P6.77 billion in bank transactions flagged by the Anti-Money Laundering Council (AMLC) and linked to Vice President Sara Duterte may not represent the total amount of funds that moved through the accounts because reporting rules cover only certain transactions.
Chua, who chairs the House committee on good government and public accountability and serves on the House committee on justice, said AMLC data includes only “covered” and “suspicious” transactions and excludes deposits below the reporting threshold.
He said banks report transactions of P500,000 and above to the AMLC, while those below the threshold are not automatically reported. He said the figures presented to the House justice panel should not be treated as the total amount of deposits or transactions.
During an impeachment clarificatory hearing on Wednesday, the AMLC said Duterte and her spouse, Manases Carpio, were linked to 663 bank transactions—630 covered and 33 suspicious—amounting to P6.77 billion. The total included P4.42 billion in inflows, P1.55 billion in outflows, and P791.1 million classified as undetermined.
Chua issued the clarification after Duterte’s legal camp said the AMLC figures were overstated and reflected only the movement of funds rather than ownership or net wealth.
Chua said the inquiry seeks to establish patterns of transactions and examine possible unexplained wealth. He said public officials must show that their declared income supports their accumulated wealth as stated in their statements of assets, liabilities and net worth.
Data presented by the Office of the Ombudsman showed Duterte’s declared net worth increased from P7.25 million in 2007 to P88.51 million in 2024.
Chua said lawmakers are examining differences between declared net worth and the scale of transactions reflected in AMLC records.
The House committee on justice continues to review the AMLC findings as part of efforts to determine whether probable cause exists to proceed with the impeachment case.
Terry Ridon, chairman of the House committee on public accounts, said Duterte’s defense acknowledged the scale of transactions while questioning the interpretation of the data. He said the movement of funds requires explanation, including the source and destination of the money.
Ridon said the duration of nearly two decades does not remove the need to account for the transactions. He said Duterte and her representatives should participate in the impeachment proceedings and address the AMLC findings.
