Are there any examples of electoral bonds or similar instruments usage in the Western democracies?

Question

After Reading this question I have searched if any Western democracy have used something similar to make political campaign financing more transparent.

From the accepted answer in the aforementioned question:

The idea is to fight the black money during elections, avoiding for instance money consequence of illegal activities. According to the electoral law, a person can donate only upto Rs. 2,000/- in cash. To donate more, you'll have to buy the bond and give it to the political party.

This sounds good in theory, so I am wondering if this sort of political funding was used by any Western democracy (US, Canada, European country) in the recent history (1990+).

Question: Are there any examples of electoral bonds or similar instruments usage in the Western democracies?

Answer 1

India has used electoral bonds, but no "Western" nation has.

The purpose of the bonds is to prevent cash donations, as often cash donations are the proceeds of crime. The bonds must be purchased through a bank, and banks have procedures and protocols for identifying money that has been obtained illegally.

It may simply be the case that, in the West, criminals don't believe that spending money to corrupt politicians is an effective way of money laundering, or perhaps that political parties in the West already have their own mechanisms for controlling "dirty money", such as a register of doners.

Or it may be that parties in the West don't get sufficient cash donations to make this a significant problem. At any rate, Western countries don't use the Electoral Bond system for political donation.

Answer 2

Note: this is only a partial answer as my knowledge on the subject is quite limited. Improvements are welcome.

Some countries have strict regulation in place to ensure financial transparency and fair elections. I'm going with the example of France because I'm more familiar with it, but it's not the only one.

• The system relies mostly on public subsidies in order to prevent political parties depending solely on private money (which is the reason they would accept dubious donations in the first place). The amount of public money a party receives depends on its results in national elections.
• Private funding [fr]: an individual cannot donate more than €7,500 in a year to a political party (but the individual is entitled to a tax reduction). Only political organizations are allowed to donate to a political party, it's forbidden for companies or other types of organizations. Gifts and loans are forbidden as well, and foreign organizations cannot contribute in any way.
• Election campaigns [fr] have specific rules. Funding relies mostly on public money. There is a maximum amount a candidate can spend on the campaign (22.5 millions euros in 2017). Additionally tv and radio media must give every mainstream candidate the same amount of time overall (not only for official debates).
• Oversight: parties and electoral campaigns must keep detailed accounting books which are reviewed by an independent administrative body [fr]. If a breach is found, parties or candidates face fines (e.g. Sarkozy's 2012 campaign [fr]) or criminal prosecution (e.g. Sarkzy's Libyan funding in the 2007 campaign).