Vatican City, 09 May 2013: The Vatican continued its efforts to update its financial
standards by signing an agreement with the United States to allow the two countries
to exchange information to prevent money laundering and terrorism funding.
“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 René Brülhart, director of
the Vatican Financial Information Authority.
The Memorandum of Understanding
was agreed upon with the American Financial Crimes Enforcement Network, which came
into being after the Sept. 11, 2001 terrorist attacks.
The agreement allows
the two states to exchange information that will help them prevent criminal financial
activity from taking place and was signed in Washington, D.C. on May 7.
The
financial developments take place against the backdrop of the Vatican working to show
it is making every effort to bring its financial standards up to speed.
Brülhart
said that the arrangement with the U.S. demonstrates that the Vatican “is a credible
partner internationally and has made a clear commitment in the exchange of information
in this fight.”
The Vatican has already inked deals with Belgium, Spain and
Slovenia, but the U.S. agreement is clearly the most important one to date.
The
Financial Information Authority is currently pursuing agreements with more than 20
other countries and it expects to finalize several of those this year. Source:
CNA/EWTN