COLLABORATION BETWEEN AIF AND FINCEN AGAINST MONEY LAUNDERING

Vatican City, 8 May 2013 (VIS) – The Holy See Press Office issued a press release yesterday with the information that the Financial Intelligence Authority of the Holy See and Vatican City State (“Autorita di Informazione Finanziaria”, AIF), signed a Memorandum of Understanding that day, 7 May, in Washington, D.C., USA. The memorandum's cosignatory was the Financial Crimes Enforcement Network (FinCEN), its United States counterpart at the US Department of Treasury. The purpose of the collaboration is to strengthen efforts to fight money laundering and the global financing of terrorism.

The Memorandum, signed by Rene Brulhart, director of AIF, and Jennifer Shasky Calvery, director of FinCEN, will foster bi-lateral cooperation in the exchange of financial information. “This is a clear indication that the Holy See and the Vatican City State take international responsibilities to combat money laundering and the financing of terrorism very seriously, and that we are cooperating at the highest levels”, said Brulhart. “The Vatican has shown that it is a credible partner internationally and has made a clear commitment in the exchange of information in this fight.”

The AIF was established in 2010 and became operational in April of 2011. It is the competent authority of the Holy See and Vatican City State for financial intelligence and for supervision and regulation in the prevention and countering of money laundering and financing of terrorism.

The press release also includes a background note that the AIF is currently in discussions with various Financial Intelligence Units (FIUs) of other countries and jurisdictions, including European countries, about entering into Memorandums of Understanding (MoUs) to strengthen bilateral cooperation to fight Money Laundering and Terrorism Financing. So far, the AIF has already signed MoUs with the FIUs of Belgium, Spain, Slovenia, and now the United States, which plays a leading role in combating money laundering. The AIF is currently in discussions with more than 20 other FIUs, and expects several MoUs to be signed in the course of the year.