Italian lawyer appointed director of Vatican Financial Information Authority

On Monday Card. Attilio Nicora, President of the Vatican’s Financial Information Authority appointed Italian lawyer Francesco De Pasquale, director of the same authority.

Born in 1949, De Pasquale has a lengthy experience in the field of combating fraud, money laundering and financing of terrorism on a national and international level.

The financial agency was established Dec. 30 2010 as an "autonomous and independent body with the specific task of preventing and countering the laundering of money and the financing of terrorism with respect to each subject, both legal and physical, entity and institution of whatever nature, of Vatican City State, of the Dicasteries of the Roman Curia and of all the other institutions and entities dependent on the Holy See.


Vatican Radio interviewed Marcello Condemi, associate professor of economic law at Rome's G. Marconi University and a Bank of Italy expert on money laundering.

Q: Some two months have passed since 30 December 2010, when the Holy See issued new laws concerning money laundering and the financing of terrorism, and published the Apostolic Letter "Motu Proprio data" signed by the Supreme Pontiff. Since then what important moves have been made, within the Holy See, to implement those dispositions?

A: "Within a very brief time the Pope identified and appointed the members of the administrative council of the Financial Information Authority. ... The people who make up the council, first and foremost Cardinal Attilio Nicora a figure well-known for his abilities, were appointed by an act of the Supreme Pontiff on 19 January; that is, just twenty days after the publication of the anti-money laundering law.
"This has enabled the authority - while waiting for law CXXVII concerning money laundering to come into effect, something due to take place on 1 April - to begin working in view of the delicate tasks that await it. Firstly, it has established a headquarters, which by the terms of the Statute is in Vatican City State, and specifically in Palazzo San Carlo. Furthermore, it is reviewing the bodies which, by virtue of their typological or organisational characteristics, are believed, in accordance with article two of the law, to be subject to the anti-money laundering norms therein contained.
"All this has been done using the professional qualities and great willingness of the members of the administrative council, though without failing to attend to the effective organisational structure of the authority through acquisition of the necessary professional resources. In this context, we must emphasise the selection ... of the director who has taken office today and who, in keeping with the Statute, has responsibility for 'the operational activities of the Authority'; in other words, for making the decisions and strategic goals adopted by the administrative council operational. This appointment has gone to an important professional figure who for many years has concerned himself with, among other things, the prevention and countering of money laundering and financing of terrorism. The new director has, since 1990, been a member of the Italian delegation to the Financial Action Task Force on Money Laundering (GAFI) and is an expert in evaluating the degree to which the norms of the Statute conform to international anti-money laundering standards".

Q: In an interview you gave on 30 December, you highlighted the Holy See's determination to continue to adapt its legislation to international norms concerning money laundering, Have steps also been made in this direction?

A: "First of all, I would like to highlight that the anti-money laundering legislation published on 30 December represents a solid legal foundation for prevention and countering, something which has been recognised by various authorities. Suffice to mention the introduction of the crime of self-money laundering which cannot fail to produce important results also as concerns identifying any suspect operations. ... I would also point out that the Holy See, in communicating with MONEYVAL (an office of the Council of Europe linked to GAFI), has reiterated its determination to continue the journey it has begun and has expressed its readiness formally to adhere to the international organisations charged with countering money laundering and the financing of terrorism, and to the methods with which they work".

Q: In view of the proximity of 1 April do you believe the authority is capable of collecting and processing any suspect operations it may learn about, thus beginning its co-operation with other authorities?

A: "The authority is working hard towards this goal so that, on 1 April, it will be in a position to collect any suspect operations it may learn about, process them according to law and send them, if the necessary legal requirements exist, to the judicial authorities of Vatican City State".