Oghma Intelligence’s Post

Democracy for Sale? The Influence of Money and Bribery on Elections A recent international bribery scandal involving Smartmatic and Israeli-Venezuelan national Eli Moreno, who is accused of facilitating bribes to secure contracts for the 2016 Philippine elections, sheds light on a troubling reality: the profound influence of money in democratic processes. This case involves concealed financial manipulation through bribery and money laundering, bringing to the forefront a broader issue that has plagued democracies for years—elections significantly swayed by money, whether through hidden bribes or overt donations. According to the investigation, Smartmatic's executives, including Moreno, allegedly paid a $1 million bribe to the former chairman of the Philippine Commission on Elections, Juan Andres Bautista, to secure contracts worth $199 million for supplying voting machines and related services. The bribe was reportedly funded through inflated charges on the voting machines, with the excess money being laundered through a network of bank accounts in Asia, Europe, and the United States. These illegal payments were disguised using fake loan agreements and shell companies, making it challenging to trace the funds. For decades, financial power has often dictated electoral outcomes, with vast sums of money being funneled into campaigns, lobbying, and, as seen here, outright bribery. This raises a fundamental question: Are elections truly a reflection of the people's will, or are they increasingly becoming contests won by those with the deepest pockets? The Smartmatic scandal is a stark reminder of how financial influence, whether in the shadows or in plain sight, can erode the integrity of elections. This case not only demonstrates the extent to which financial manipulation can distort democratic processes but also highlights the critical need for robust international cooperation in combating such corruption. The involvement of multiple countries' financial systems in laundering bribe money underscores the global nature of this issue. In the end, this case exposes an uncomfortable truth: today, it's less about actions and ideas and more about money and personal interest. The ideals of democracy are increasingly overshadowed by those who can afford to pay their way to power, leaving the principles of genuine representation and integrity in the dust. #Democracy #ElectionIntegrity #PoliticalInfluence #BriberyScandal #MoneyInPolitics #GlobalElections #AntiCorruption

Democracy for Sale? The Influence of Money and Bribery on Elections A recent international bribery scandal involving Smartmatic and Israeli-Venezuelan national Eli Moreno, who is accused of facilitating bribes to secure contracts for the 2016 Philippine elections, sheds light on a troubling reality: the profound influence of money in democratic processes. This case involves concealed financial manipulation through bribery and money laundering, bringing to the forefront a broader issue that has plagued democracies for years—elections significantly swayed by money, whether through hidden bribes or overt donations. According to the investigation, Smartmatic's executives, including Moreno, allegedly paid a $1 million bribe to the former chairman of the Philippine Commission on Elections, Juan Andres Bautista, to secure contracts worth $199 million for supplying voting machines and related services. The bribe was reportedly funded through inflated charges on the voting machines, with the excess money being laundered through a network of bank accounts in Asia, Europe, and the United States. These illegal payments were disguised using fake loan agreements and shell companies, making it challenging to trace the funds. For decades, financial power has often dictated electoral outcomes, with vast sums of money being funneled into campaigns, lobbying, and, as seen here, outright bribery. This raises a fundamental question: Are elections truly a reflection of the people's will, or are they increasingly becoming contests won by those with the deepest pockets? The Smartmatic scandal is a stark reminder of how financial influence, whether in the shadows or in plain sight, can erode the integrity of elections. This case not only demonstrates the extent to which financial manipulation can distort democratic processes but also highlights the critical need for robust international cooperation in combating such corruption. The involvement of multiple countries' financial systems in laundering bribe money underscores the global nature of this issue. In the end, this case exposes an uncomfortable truth: today, it's less about actions and ideas and more about money and personal interest. The ideals of democracy are increasingly overshadowed by those who can afford to pay their way to power, leaving the principles of genuine representation and integrity in the dust. #Democracy #ElectionIntegrity #PoliticalInfluence #BriberyScandal #MoneyInPolitics #GlobalElections #AntiCorruption

#electoralbonds No, we will never know whose money is behind a particular Electoral Bond. Just declaring the names of bond purchasers is not enough. X as a middleman can compel Y to buy these bonds and hand them over to some political party. The Supreme Court ruling only unveils the names of Ys. We will never know the real X. Only the political party in receipt of these bonds knows who the X is. A thorough investigation by investigating agencies is needed to dig out the names of real stakeholders in this murkiest and opaque mode of corruption [laughable expectation]. Under the guise of combating corruption this scheme paradoxically legalized bribes through apparently lawful means. Names and amount related electoral bonds which is submitted are just tip of icebergs as the real transaction and middle men are impossible to figure out. However this Supreme Court ruling and subsequent actions are needed as they say "half a loaf is better than none". -Adv. Nirbhay

The new EU Anti-Money Laundering Authority (AMLA) has been established - what should banks expect next? As Benedict Wagner-Rundell writes, with the rules applying from mid-2027, and direct AMLA supervision beginning in 2028, the new AML rulebook will require significant changes from regulated firms' internal controls, and the new EU-wide supervisory methodology AMLA will develop will have a major impact on how compliance is overseen. KPMG’s #AMLAOffice will provide regular updates and analysis of the AMLA’s strategy, rulemaking and supervisory policy development. KPMG professionals are ready to support firms preparing for the new AML environment and navigating your #AMLAJourney. Subscribe for AMLA Office updates here: https://lnkd.in/ehRtFsca #KPMG #AMLAOffice #compliance

ICYMI Experts have called for an expanded definition of illicit financial flows to include tax evasion and other benefits that emanate from transnational crimes, bribery, embezzlement, and other illegal activities. Read more from the deliberations at the recently concluded European Commission InfoPoint conference. 👉 https://tjna.me/3RQgpb4 #TaxJusticeAfrica #UNTaxConvention Like, comment, share

In Bloomberg Tax, DLA Piper's Augusto Nicolás Mancinelli and Marcelo Etchebarne examine Argentina’s newly revised anti-money laundering regulations and suggest best practices for companies operating within the new #AML provisions. Please follow the link to read more. #Argentina #BloombergTax #AntiMoneyLaundering #Corporate

In Bloomberg Tax, DLA Piper's Augusto Nicolás Mancinelli and Marcelo Etchebarne examine Argentina’s newly revised anti-money laundering regulations and suggest best practices for companies operating within the new #AML provisions. Please follow the link to read more. DLA Piper Argentina #BloombergTax #AntiMoneyLaundering #Corporate

Episode 346: Forecasting the 2nd Trump Administration Enforcement and Compliance Impact - Corruption, Crime &… https://okt.to/XZVBkS via @@mikevolkov20

Episode 346: Forecasting the 2nd Trump Administration Enforcement and Compliance Impact - Corruption, Crime &… https://okt.to/GdqtZh via @@mikevolkov20

Tax evasion and corruption are two sides of the same coin. When people don't pay their fair share, it fuels a system of bribery and waste. Let's break the cycle! Pay your taxes and demand accountability from our leaders. Together, we can build a more just and equitable society. #PayYourTaxes #EndCorruption #AccountabilityNow #CPDI #Corruption #taxevasion