Business · Malaysia Bureau
Philippines investigates China-linked remittances to Duterte family firm
Philippine authorities are examining suspicious fund transfers from China and Hong Kong to a company linked to Vice President Sara Duterte, after financial institutions flagged the transactions for potential money laundering concerns.
LSN Malaysia ·
The Philippine government has launched an inquiry into remittances originating from China and Hong Kong that were received by a firm connected to Vice President Sara Duterte, following alerts raised by multiple banks over suspicious transaction patterns.
Financial institutions flagged the transfers as potentially problematic and reported them to the country's Anti-Money Laundering Council, the primary regulatory body tasked with investigating financial crimes and illicit fund flows.
The investigation represents part of broader scrutiny surrounding the vice president's finances and business dealings. The Anti-Money Laundering Council typically examines flagged transactions to determine whether they comply with Philippine anti-money laundering regulations and international standards.
Vice President Duterte has faced increasing political scrutiny in recent months following public disputes with President Ferdinand Marcos Jr. and allegations concerning her office's budget expenditures.
The Philippine authorities have not released detailed information regarding the specific amounts involved, the timeline of the transfers, or the identity of the remittance sources in China and Hong Kong.