Deputy Speaker and Quezon Rep. David “Jay-Jay” Suarez is pushing for a congressional inquiry to review and potentially strengthen the authority of the Anti-Money Laundering Council (AMLC) following the disclosure of billions of pesos in flagged transactions linked to Vice President Sara Duterte and her husband.
Suarez made the call after the AMLC told the House Committee on Justice during an impeachment hearing that a total of P6.77 billion in covered and suspicious transactions had been recorded in the accounts of Duterte and her spouse over two decades, starting in 2005.
While the AMLC confirmed that the transactions were flagged by financial institutions, it said it could not disclose whether these were further investigated or what actions, if any, were taken, including details on their sources, nature, or recipients.
For Suarez, the disclosure raises questions about whether the AMLC is effectively fulfilling its mandate and whether it needs stronger enforcement powers to properly scrutinize large and potentially suspicious financial movements.
“Klarong-klaro na kailangan po nating tingnan ang AMLC kung sila po ba ay in tune pa rin sa makabagong mundo, kung ano pa ba ang kailangan nating gawin upang mas palakasin ang kanilang ahensya dahil dapat binabantayan nila ang ganitong mga transaksyon,” he said.
“Kung titingnan po natin, simula 2005 pa pala, may mga ganito nang malalaking transaksyon na hindi maipaliwanag base sa mga dokumento,” he added.
Suarez said the matter should be referred to the appropriate House committee, such as the Committee on Banks and Financial Intermediaries, for a deeper inquiry into how the AMLC handles flagged transactions and whether reforms are needed to improve oversight.
During the hearing, lawmakers also sought clarification on AMLC records covering 417 transactions linked to Duterte from 2005 to 2026, amounting to P3.92 billion, along with an additional P791 million, classified as undetermined covered and suspicious transactions.
AMLC Executive Director Ronel Buenaventura said that in the agency’s early years, its capacity was limited and its systems were not yet fully developed to categorize transactions as inflows or outflows.
He explained that the P791 million reflects transactions that could not be clearly classified, as early AMLC reports primarily tracked the movement of funds without detailed categorization.
“Noong nagsimula ang AMLC, maliit pa lang po at ‘yung system niya na para tumanggap ng report ay hindi pa nakakapag-categorize kung inflow o outflow. Ang nakikita lang o natatanggap na report ay kung may gumalaw,” Buenaventura said.
Despite these limitations, the AMLC confirmed that 18 transactions from 2008 to 2015 matched records previously presented by former Sen. Antonio Trillanes IV, lending partial validation to his earlier allegations before the committee.
The development comes as the House Committee on Justice continues its impeachment proceedings, which have also examined Duterte’s financial records, including her net worth rising from P7.25 million in 2007 to P88.4 million in 2024, as well as inconsistencies between declared assets and AMLC-monitored transactions in recent years.