Nenita Camposano explains difference between covered and suspicious transactions

Manila Bulletin

Former Land Bank DepEd Branch manager Nenita Camposano explained before the Senate impeachment court that covered transactions are automatically reported to the Anti-Money Laundering Council (AMLC) when they exceed ₱500,000.  Meanwhile suspicious transactions are reported based on unusual or doubtful activity regardless of the amount. She declined to say whether the ₱37.5 million DepEd transactions were flagged as suspicious, citing bank confidentiality. (Video courtesy of Senate of the Philippines)  Subscribe to the Manila Bulletin Online channel! -  https://www.youtube.com/TheManilaBulletin  Visit our website at http://mb.com.ph Facebook: https://www.facebook.com/manilabulletin  Twitter: https://www.twitter.com/manila_bulletin  Instagram: https://instagram.com/manilabulletin  Tiktok: https://www.tiktok.com/@manilabulletin   #VPSaraOnTrial #ManilaBulletinOnline   #ManilaBulletin  #LatestNews

Transcript

00:00Yes, before my line of questioning, gusto ko lang pong klaruhin rin po ma'am. Alam nyo po ba na

00:05para sa confidential funds yung pondong yan? Hindi rin po diba? And you're not required to ask? Yes. Hindi rin

00:13kayo kayo nagtatanong talaga? Yes. Okay.

00:15Okay. Pinag-uusapan po kasi yung covered, suspicious, pati yung salitang unusual. Sa inyo pong pagkakaalam bilang isang bank manager,

00:27ano po bang pinagkaya ba ng covered transaction, suspicious transaction?

00:32Ang covered transaction po is automatic po yung inire-report sa AMLC. May system po ang land bank na ang

00:43mga transactions ng banko na in excess of 500,000 ay automatic na nakareport.

00:50Ang suspicious transaction naman po ay pagka mayroong kaming nakita kayo malaking amount, kayo madiit, basta parang mayroong, parang doubtful

01:03yung transactions. Kailangan po namin i-reporta sa SPR.

01:07Okay.

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