Vatican and Germany sign MOU to fight against money laundering
Vatican City, 5 December 2013: The Financial Intelligence Unit of the Holy See (AIF)
on Wednesday, December 4, signed a Memorandum of Understanding with its German counterpart,
the "Zentralstelle für Verdachtsmeldungen at the Bundeskriminalamt" (BKA).
The
Memorandum was signed in the Vatican by Cardinal Attilio Nicora, President of AIF,
and by Dr. Michael Dewald, director of Zentralstelle für Verdachtsmeldungen at the
Bundeskriminalamt (BKA).
A Vatican Comuniquè explains that a Memorandum of
Understanding (MOU) is standard practice and formalizes the cooperation and exchange
of financial information to fight money laundering and terrorist financing across
borders between the competent authorities of both countries.
It is based on
the model Memorandum of Understanding prepared by the Egmont Group, the global organization
of national Financial Intelligence Units, and contains clauses on reciprocity, permitted
uses of information and confidentiality.
“This Memorandum is strengthening
AIF’s international reach and further integrates the Holy See and the Vatican City
State with a coordinated global effort to fight Money Laundering and the Financing
of Terrorism,” said AIF Director René Bruelhart. “Today’s signing underlines our fruitful
relationship and will further facilitate our joint efforts.” AIF became member
of the Egmont Group earlier in July this year and signed in the last months MOUs with
the Financial Intelligence Units of the United States, Belgium, Italy, Spain, Slovenia
and the Netherlands. More are expected to be signed in the course of the coming months.
AIF
is the competent authority of the Holy See/Vatican City State to fight money laundering
and financing of terrorism. It was established in 2010.Source: VIS