Metrobank official: Suspicious transaction reports based on concrete evidence

MANILA – Suspicious transaction reports submitted to authorities are grounded in concrete evidence and not merely on the basis of negative media coverage or gossip, Metrobank Anti-Money Laundering Division Head Atty. Niña Aguilar testified Wednesday before the Senate impeachment court.

Aguilar's statement came during questioning by Senator-judges Risa Hontiveros and Francis Pangilinan, who sought clarification on the procedural basis for filing suspicious transaction reports (STRs) that banks transmit to regulatory bodies.

The testimony touched on how financial institutions determine what transactions warrant reporting to authorities, a critical component of the nation's anti-money laundering framework. Banks are required to file STRs when customer activity exhibits patterns potentially indicative of illicit financial activity.

The exchange underscored ongoing concerns among lawmakers about the criteria and evidentiary standards applied when institutions flag transactions as suspicious, particularly in high-profile cases that attract significant public attention.