Representatives from NGO Transparency International (TI) emphasized that political campaigns, particularly in Latin America, serve as a major avenue for money laundering.
During a forum on political integrity and financing of democracy, TI representatives from Argentina, Colombia, and Panama gathered to address the infiltration of corrupt financial flows into politics.
The executive director of Poder Ciudadano, the Argentine division of TI, highlighted the prevalence of money laundering in political campaigns.
He explained that it is a means of bringing in funds channeled back to those who contributed through public works and contracts.
The experts pointed out that money launderers often operate across borders, with some countries exporting corruption and others importing it.
They cited the Odebrecht corruption scandal, which involved bribes for public contracts in multiple Latin American countries.
The representatives agreed that effective measures must be taken to combat the problem.
They emphasized the importance of developing rules and consensus to address political financing issues, often receiving insufficient attention in the region.
They stressed the need to improve the delivery of public resources to reduce reliance on private-sector funding and mitigate the risk of illicit financing.
The forum participants acknowledged that campaign finance irregularities have been a longstanding issue in Latin America.
They expressed the urgency for concrete and impactful actions to address the problem, as scandals repeatedly surface without substantial changes in the system.
The focus on preventing money laundering and enhancing transparency in political financing is seen as crucial to safeguarding the integrity of democratic processes and combating corruption.