Lacson: no ‘unusual’ transactions under AMLA, only covered and suspicious

Former Land Bank DepEd branch manager Nenita Camposano during direct examination by House prosecutor Rep. Josel Chua. Screenshot from the Senate livestreamLacson said covered transactions are those that involve amounts above ₱500,000, and must be reported even if not considered suspicious. Either it’s suspicious or covered,” he said, referring to Senate impeachment court presiding officer Chiz Escudero’s use of “kaduda-duda.” Asked by Lacson whether a deposit or withdrawal of more than ₱500,000 by an ordinary depositor makes it a covered transaction, Camposano answered in the affirmative. Camposano explained that it was unusual for the DepEd because it was the only huge withdrawal by the agency during her time as branch manager.