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Advocates Philippines
Suarez Flags Gap In Duterte SALN Against Bank Data
Photo courtesy from PNA
A lawmaker has raised fresh questions over the financial disclosures of Sara Duterte, pointing to what he described as a mismatch between her declared assets and bank-reported transactions.
During a House Committee on Justice hearing, Deputy Speaker and Quezon Rep. David Suarez said the numbers appearing in Duterte’s Statements of Assets, Liabilities and Net Worth (SALN) do not seem to align with data submitted by banks to the Anti-Money Laundering Council (AMLC).
“At ang nakakapagtaka po Madam Chair, para yatang hindi nagtutugma yung kwento sa kwenta. Dahil sa SALN kanina na binabanggit po ng ating kasamahan na si Cong. Terry Ridon may mga sinabi na may cash on hand kaso lang base sa labas at pasok ng pera mas malaki po yung nai-report ng mga bangko sa AMLC kesa dun sa lumalabas sa SALN,” Suarez told the panel.
The issue surfaced as lawmakers reviewed documents tied to impeachment complaints against Duterte, comparing her SALN entries with financial movements linked to her and her husband, lawyer Manases Carpio.
Before pressing his point, Suarez sought clarification from AMLC Executive Director Ronel Buenaventura on how transaction reports are generated.
“Mam para lang po maunawaan ko po yung proseso ng pagre-report, ito pong mga tinatalakay na covered o suspicious transactions ito po ay nirereport sa inyo ng bangko o AMLC ang nagpa-flag nito? Pano po ba ang sistema?” Suarez asked.
“Bangko po ang nagre-report nito sa AMLC,” Buenaventura replied.
Suarez then underscored that banks themselves determine which transactions are flagged before submitting reports.
“Therefore the bank determines kung ano yung mga considered the flagged, suspicious tapos nire-report sa inyo,” Suarez said.
“Tama po,” Buenaventura answered.
The lawmaker stressed that this distinction matters, saying the financial data being examined did not originate from AMLC targeting specific individuals, but from banks reporting transactions under existing rules.
“Mahalaga po kasing malaman yung Madam Chair upang maunawaan natin ang bangko mismo ang nagpapadala ng na-report nito sa AMLC and it is not AMLC looking into specific accounts of this individual. Am I right to state that Madam Chair,” Suarez said.
“Tama po,” Buenaventura affirmed.
Suarez then pointed to SALN records showing Duterte’s declared net worth rising from P7.2 million in 2007 to P71.058 million in 2022, and further to P88.512 million in 2024. However, he noted that from 2019 to 2024, her filings reflected no declared cash on hand or in bank.
That contrast, he said, raises questions—especially when set against bank-reported inflows and outflows that appear significantly larger.
He also raised the possibility that AMLC data may not capture the full picture, since only transactions above P500,000 or those deemed suspicious are required to be reported.
“So pwede ko rin po bang masabi Madam Chair na maaari AMLC na hindi pa kompleto ang report kasi sabi nyo po bangko lang ang nagre-report sa inyo. So there maybe other transactions that may have not been reported to you because they may have thought that those were not suspicious neither were they flagged, am I right to assume that,” Suarez asked.
Buenaventura acknowledged the limitation.
“Tama po because ang nirereport lang po ng bangko sa AMLC halimbawa yung mahigit P500,000 or suspicious, kung hindi po mahigit P500,000 yan hindi po irereport sa AMLC so maaari po or maaari ring wala na merong transaction na mas mababa pa sa P500,000 na hindi na nairereport sa amin,” he said.
Suarez then suggested that the figures already under review could still grow if additional transactions—below reporting thresholds or not initially flagged—were taken into account.
“Eh di maaari rin pong sabihin pwede pang lumobo itong numero na ito kung mas lalong bubusisiin at titignan. Dahil maaaring hindi na-flag ng banking institution yung specific na transaction dahil sa pananaw nila hindi ito suspicious o covered ng kanilang criteria,” he said.
Buenaventura stopped short of confirming that scenario, but acknowledged the possibility.
“Hindi ko po masabi pero theoretically posible po,” he replied.
The exchange adds another layer to ongoing scrutiny over Duterte’s financial disclosures, as lawmakers continue to examine whether declared assets align with documented financial activity.
During a House Committee on Justice hearing, Deputy Speaker and Quezon Rep. David Suarez said the numbers appearing in Duterte’s Statements of Assets, Liabilities and Net Worth (SALN) do not seem to align with data submitted by banks to the Anti-Money Laundering Council (AMLC).
“At ang nakakapagtaka po Madam Chair, para yatang hindi nagtutugma yung kwento sa kwenta. Dahil sa SALN kanina na binabanggit po ng ating kasamahan na si Cong. Terry Ridon may mga sinabi na may cash on hand kaso lang base sa labas at pasok ng pera mas malaki po yung nai-report ng mga bangko sa AMLC kesa dun sa lumalabas sa SALN,” Suarez told the panel.
The issue surfaced as lawmakers reviewed documents tied to impeachment complaints against Duterte, comparing her SALN entries with financial movements linked to her and her husband, lawyer Manases Carpio.
Before pressing his point, Suarez sought clarification from AMLC Executive Director Ronel Buenaventura on how transaction reports are generated.
“Mam para lang po maunawaan ko po yung proseso ng pagre-report, ito pong mga tinatalakay na covered o suspicious transactions ito po ay nirereport sa inyo ng bangko o AMLC ang nagpa-flag nito? Pano po ba ang sistema?” Suarez asked.
“Bangko po ang nagre-report nito sa AMLC,” Buenaventura replied.
Suarez then underscored that banks themselves determine which transactions are flagged before submitting reports.
“Therefore the bank determines kung ano yung mga considered the flagged, suspicious tapos nire-report sa inyo,” Suarez said.
“Tama po,” Buenaventura answered.
The lawmaker stressed that this distinction matters, saying the financial data being examined did not originate from AMLC targeting specific individuals, but from banks reporting transactions under existing rules.
“Mahalaga po kasing malaman yung Madam Chair upang maunawaan natin ang bangko mismo ang nagpapadala ng na-report nito sa AMLC and it is not AMLC looking into specific accounts of this individual. Am I right to state that Madam Chair,” Suarez said.
“Tama po,” Buenaventura affirmed.
Suarez then pointed to SALN records showing Duterte’s declared net worth rising from P7.2 million in 2007 to P71.058 million in 2022, and further to P88.512 million in 2024. However, he noted that from 2019 to 2024, her filings reflected no declared cash on hand or in bank.
That contrast, he said, raises questions—especially when set against bank-reported inflows and outflows that appear significantly larger.
He also raised the possibility that AMLC data may not capture the full picture, since only transactions above P500,000 or those deemed suspicious are required to be reported.
“So pwede ko rin po bang masabi Madam Chair na maaari AMLC na hindi pa kompleto ang report kasi sabi nyo po bangko lang ang nagre-report sa inyo. So there maybe other transactions that may have not been reported to you because they may have thought that those were not suspicious neither were they flagged, am I right to assume that,” Suarez asked.
Buenaventura acknowledged the limitation.
“Tama po because ang nirereport lang po ng bangko sa AMLC halimbawa yung mahigit P500,000 or suspicious, kung hindi po mahigit P500,000 yan hindi po irereport sa AMLC so maaari po or maaari ring wala na merong transaction na mas mababa pa sa P500,000 na hindi na nairereport sa amin,” he said.
Suarez then suggested that the figures already under review could still grow if additional transactions—below reporting thresholds or not initially flagged—were taken into account.
“Eh di maaari rin pong sabihin pwede pang lumobo itong numero na ito kung mas lalong bubusisiin at titignan. Dahil maaaring hindi na-flag ng banking institution yung specific na transaction dahil sa pananaw nila hindi ito suspicious o covered ng kanilang criteria,” he said.
Buenaventura stopped short of confirming that scenario, but acknowledged the possibility.
“Hindi ko po masabi pero theoretically posible po,” he replied.
The exchange adds another layer to ongoing scrutiny over Duterte’s financial disclosures, as lawmakers continue to examine whether declared assets align with documented financial activity.
Apr 22, 2026
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