Most social media users come from the Global South, where harmful content usually appears in local languages. Yet, AI-driven moderation systems struggle with low-resource languages spoken in these regions. Through semi-structured interviews with 22 AI experts working on harmful content detection in four low-resource languages: Tamil (South Asia), Swahili (East Africa), Maghrebi Arabic (North Africa), and Quechua (South America)--we examine systemic issues in building automated moderation tools for these languages. Our findings reveal that beyond data scarcity, socio-political factors such as tech companies' monopoly on user data and lack of investment in moderation for low-profit Global South markets exacerbate historic inequities. Even if more data were available, the English-centric and data-intensive design of language models and preprocessing techniques overlooks the need to design for morphologically complex, linguistically diverse, and code-mixed languages. We argue these limitations are not just technical gaps caused by "data scarcity" but reflect structural inequities, rooted in colonial suppression of non-Western languages. We discuss multi-stakeholder approaches to strengthen local research capacity, democratize data access, and support language-aware solutions to improve automated moderation for low-resource languages.