AMLC official unable to explain discrepancies in Duterte's financial records

Manila — A senior official of the Anti-Money Laundering Council (AMLC) has acknowledged difficulty in reconciling apparent discrepancies between Vice President Sara Duterte's declared assets and her actual financial movements, raising fresh questions about transparency in her financial disclosures.

AMLC Secretariat Executive Director Ronel Buenaventura told lawmakers that he could not explain the variance between Duterte's statements of assets, liabilities and net worth (SALNs) and banking records involving the vice president and her husband, Manases Carpio. The admission came during congressional hearings examining the financial records of the high-ranking official.

Buenaventura acknowledged the existence of what he termed an "absurd possibility" regarding cumulative discrepancies when reviewing multiple years of Duterte's SALN filings. The SALN, a mandatory annual disclosure required of all public officials in the Philippines, is intended to promote transparency and track unexplained wealth.

The AMLC, tasked with investigating suspicious financial transactions and combating money laundering, typically relies on banking data to verify the accuracy of officials' asset declarations. The inability of its executive director to account for the documented gap underscores challenges in the country's financial accountability mechanisms.

The matter adds to ongoing scrutiny of Duterte's finances and governance record as vice president, a position she has held since 2022.