Financial Crime World

Chile Announces Comprehensive Anti-Corruption Strategy

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In a major push to combat corruption, Chilean President Boric unveiled the National Public Integrity Strategy (ENIP) this morning. This evidence-based participatory strategy aims to improve transparency, integrity, and anti-corruption efforts across the country.

Key Initiatives

The comprehensive strategy includes over 200 concrete measures designed to prevent corruption and promote good governance. Some of the key initiatives are:

  • Public Service Corruption: 70 measures targeting public service corruption, including:
    • A bill on preventing conflicts of interest that introduces sanctions for those who fail to disclose their assets.
  • Municipal Integrity: Measures aimed at improving municipal integrity, such as:
    • Greater control over municipal corporations
    • Restrictions on mayors appointing family members to positions of trust
  • Public Resources Protection: 40 measures to protect public resources, including:
    • The recently-enacted Public Procurement Law, which establishes a system for detecting conflicts of interest and monitoring direct deals

Transparency and Accountability

The strategy also focuses on transparency, aiming to:

  • Develop a single portal for state institutions’ public accounts
  • Create a platform for responding to citizen requests
  • Combat corruption in politics by:
    • Preventing those convicted of corruption from running for office
    • Regulating electoral spending

National Registry of Final Beneficiaries

The government plans to create a National Registry of Final Beneficiaries of Legal Entities, which will aid the fight against:

  • Tax evasion
  • Organized crime
  • Money laundering
  • Financing of terrorism
  • Attacks against free competition
  • Conflicts of interest in the private sector

The registry will provide authorities with valuable insights into the ownership structures of companies, helping to identify potential corrupt activities.

Impact and Outlook

The National Public Integrity Strategy marks a significant step forward in Chile’s efforts to combat corruption and promote transparency and accountability across all sectors. With its comprehensive approach and concrete measures, it is expected to have a lasting impact on the country’s fight against graft.