Vatican financial authority signs agreement with Italy
(Vatican Radio) L’Autorità Informazione Finanziaria (AIF), the Financial Intelligence
Unit of the Holy See and Vatican City State, signed a Memorandum of Understanding
with its Italian counterpart, the Unità di Informazione Finanziaria (UIF) of the Bank
of Italy, on July 26.
The Memorandum was signed in Rome by Cardinal Attilio
Nicora, President of AIF, and Dr. Claudio Clemente, director of UIF.
A Memorandum
of Understanding 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.
“The Holy See and the Vatican City
State take international responsibilities concerning Anti-Money Laundering and the
Financing of Terrorism very seriously, and Italy is an especially important partner
for us,” said AIF director Rene’ Bruelhart. “We look forward to continuing our work
with the Italian Authorities in a constructive and fruitful manner. The Memorandum
of Understanding is a clear commitment to strengthen our bilateral relationship and
will facilitate the our joint efforts and fight against money laundering.”
AIF
became a member of the Egmont Group in July of this year and over the last several
months signed MOUs with the Financial Intelligence Units of the United States, Belgium,
Spain, Slovenia and the Netherlands. More are expected to be signed in the course
of this year.
AIF is the competent authority of the Holy See/Vatican City State
to fight money laundering and financing of terrorism. It was established on Dec. 30,
2010.