The Senate investigative committee on SEPI is expanding its focus to include alleged efforts to create companies abroad and actions before public bodies. The initiative, promoted by a political party, seeks to add witnesses to analyze the relationships between political, business, and institutional actors linked to the bailout of an airline.
Blockchain and transparency: digital tools to track offshore flows 🔍
The use of distributed ledger technology, such as blockchain, allows tracking capital movements between jurisdictions without relying on opaque intermediaries. Data analysis systems and artificial intelligence algorithms can cross-reference commercial registries, transfer patterns, and ownership structures to identify potential diversions. Implementing these tools in parliamentary investigation processes could reduce reliance on voluntary statements and reveal connections between entities in tax havens and public bodies.
SEPI, the bailout, and the company in the Cayman Islands that nobody saw 😅
Because of course, when you request a multi-billion bailout for an airline, the normal thing is to open a company abroad. Like buying bread and picking up an offshore subsidiary on the side. Politicians wring their hands, businessmen swear it was an accounting error, and citizens wonder if the next bailout will include a branch on Mars to diversify risks. All very transparent, like a black hole.