VATICAN CITY, 1 APR 2011 (VIS) - At midday the Holy See Press Office published an informative note announcing that "today, 1 April, marks the coming into force of Law 127 concerning the prevention and countering of the laundering of proceeds from criminal activities and of the financing of terrorism. The Law was published on 30 December 2010 together with the Supreme Pontiff Benedict XVI's "Motu Proprio" Apostolic Letter on the same subject. The Law and the Motu Proprio constitute an event of great importance which has wide-reaching moral and pastoral implications".
Today's note also explains how "the offices and organisations obliged to respect the new Law include the Institute for Works of Religion (IOR), as well as other institutions dependent on Vatican City State and on the Holy See, or that are associated with the latter.
"The Regulation concerning the transportation of money in cash also comes into force today", the note adds. This new rule "does not forbid carrying sums greater than 10,000 (ten thousand) euro when entering or leaving Vatican City State, but it does stipulate that they be declared to the offices and organisations obligated by the anti-money laundering legislation, where an operation is to be carried out, or to the Corps of the Gendarmerie at the entrance to the State. ... The failure or partial failure to meet this obligation to declare will be punished with an administrative sanction".
Finally the note explains that "last month Marcello Condemi and Francesco Di Pasquale, respectively substitute president and director of the Financial Information Authority, participated on behalf of the Holy See and of the Financial Information Authority itself at the third meeting on the application of the Council of Europe Convention on Laundering, Search, Seizure and Confiscation of the Proceeds from Crime and on the Financing of Terrorism. The convention was signed in Warsaw, Poland, in 2005".
Condemi and Di Pasquale "also had the opportunity to meet with members of MONEYVAL, an office of the Council of Europe charged with examining anti-money laundering and anti-terrorism laws, including those of the Holy See. In coming days they will attend the thirty-fifth plenary assembly of MONEYVAL in Strasbourg, during which attention will also be given to the Holy See's proposal to submit its own anti-money laundering and anti-terrorism measures for examination by that office".
OP/ VIS 20110401 (400)
Today's note also explains how "the offices and organisations obliged to respect the new Law include the Institute for Works of Religion (IOR), as well as other institutions dependent on Vatican City State and on the Holy See, or that are associated with the latter.
"The Regulation concerning the transportation of money in cash also comes into force today", the note adds. This new rule "does not forbid carrying sums greater than 10,000 (ten thousand) euro when entering or leaving Vatican City State, but it does stipulate that they be declared to the offices and organisations obligated by the anti-money laundering legislation, where an operation is to be carried out, or to the Corps of the Gendarmerie at the entrance to the State. ... The failure or partial failure to meet this obligation to declare will be punished with an administrative sanction".
Finally the note explains that "last month Marcello Condemi and Francesco Di Pasquale, respectively substitute president and director of the Financial Information Authority, participated on behalf of the Holy See and of the Financial Information Authority itself at the third meeting on the application of the Council of Europe Convention on Laundering, Search, Seizure and Confiscation of the Proceeds from Crime and on the Financing of Terrorism. The convention was signed in Warsaw, Poland, in 2005".
Condemi and Di Pasquale "also had the opportunity to meet with members of MONEYVAL, an office of the Council of Europe charged with examining anti-money laundering and anti-terrorism laws, including those of the Holy See. In coming days they will attend the thirty-fifth plenary assembly of MONEYVAL in Strasbourg, during which attention will also be given to the Holy See's proposal to submit its own anti-money laundering and anti-terrorism measures for examination by that office".
OP/ VIS 20110401 (400)
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