Brazil and Public Prosecutors from across the Americas Plan to Use Blockchain to Fight Corruption

Public prosecutors from various countries jointly discuss the potential use of blockchain in combating corruption

Public prosecutors throughout Latin America are discussing the possibility of using a blockchain-based tool to fight corruption.

Thus, according to a document obtained by the Crypto Superstar Cointelepgraph, discussions on the use of DLT are taking place within the „Ibero-American Network of Anti-Corruption Prosecutors“.

The Network is made up of public prosecutors from Ibero-American countries and is a non-profit organisation within the Aiamp.

It is also supported by the European Union Programme for Social Cohesion in Latin America (Eurosocial+).

The following are members of the Aiamp: 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

Thus, during the last meeting held by the group, coordinated by the Federal Prosecutor’s Office (MPF) through the Secretariat for International Cooperation (SCI), it was discussed, among other points, how blockchain technology can be used to fight corruption.

„Another type of innovation that contributes to the control of financial practices is the identification of the international market transactions, guaranteed by blockchain technologies, whose method of monitoring money flows favours a comprehensive and coherent system of cooperation, increasing trust between the parties,“ the meeting document to which the Cointelegraph had access highlights.

In addition, the award-winning collaboration was presented with the diagnosis drawn up from the responses of the various countries to the survey questionnaire.

It was concluded that each nation has a nomenclature for the tool, but uses it for the same purpose. In addition, they identified that there are different conditions, budgets and incentives.

In view of this, the Network has decided to continue working with a small group of countries for a final report with a more concrete roadmap outlining the criminal policy and legislative changes required within the Aiamp countries.

„In addition to the normal routine of customer due diligence, the identification of the final beneficiary and politically exposed persons by financial and co-obliged institutions are measures defined by international anti-money laundering and anti-terrorism standards, within the scope of the Gafi. Thus, knowing the laws and practices of the countries, as for example, the different Public Prosecutors obtain this information, will help to enrich international legal cooperation and, consequently, in the investigation of transnational crimes,“ said Anamara Osório, Deputy Secretary for International Cooperation of the MPF.