Prosecutors across Latin America are discussing the possibility of using a blockchain-based anti-corruption tool.
According to a document from Cointelegraph Brazil, Debates on the use of DLT take place within the framework of the “Red Iberoamericana de Fiscales Anticorrupción”.
The network consists of prosecutors from Ibero-American countries and is a non-profit organization within the framework of Aiamp.
It is also supported by the European Union’s program for social cohesion in Latin America (Eurosocial +).
Aiamp includes: Andorra, Argentina, Bolivia, Brazil, Chile, Colombia, Costa Rica, Cuba, El Salvador, Ecuador, Spain, Guatemala, Honduras, Mexico, Nicaragua, Panama, Paraguay, Peru, Portugal, Dominican Republic and Uruguay.
Meeting of prosecutors
At the last meeting of the group, which was coordinated by the Brazilian Federal Ministry (MPF) through the Secretariat for International Cooperation (SCI), among other things, it was discussed how blockchain technology can be used to fight corruption.
“Another type of innovation that helps control financial practices is the identification of international market transactions guaranteed by the blockchain technology, whose method of monitoring the flow of money favors a broad and coherent system of cooperation and increases trust between the parties” , highlights the meeting document to which Cointelegraph Brasil had access.
In addition, a diagnosis was presented to the collaboration based on the responses from different countries to the questionnaires.
It was concluded that every nation has a nomenclature for the tool but uses it for the same purpose. In addition, they found that there are different conditions, budgets and incentives.
With this in mind, the network has decided to continue working with a small group of countries to produce a final report with a more concrete roadmap setting out criminal policy and the necessary legislative changes in the Aiamp countries.
“In addition to the normal routine of customer due diligence, the identification of the final beneficiary and the politically exposed persons by the financial institutions and co-debtors are measures that are laid down in the international standards for combating money laundering and terrorism. Knowledge of the laws and practices of the countries, such as the various public ministries that receive this information will thus help to enrich international legal cooperation and, consequently, to review transnational crimes “, emphasized MPF deputy secretary for international cooperation, Anamara Osório.